Question 1 Do you have a written personal and professional development plan for your children in the business?

Yes
No

Question 2 Did you use any process to determine who your business successor will be?

Yes
No

Question 3 Has your succession plan been communicated to all members of your family and do the children not involved in the business understand how this will impact them?

Yes
No

Question 4 Do your children have a written agreement on job positions, responsibilities, accountabilities, and compensation?

Yes
No

Question 5 Do you have a plan in place so your spouse will have income that is not dependent on you?

Yes
No

Question 6 Does your spouse understand the implications that the planning process has on her?

Yes
No

Question 7 Do you have a retirement plan in place that is independent of your successor’s ability to run the business?

Yes
No

Question 8 Is there a regularly scheduled family meeting to deal with the emotional side of the succession process?

Yes
No

Question 9 Has your successor proved his readiness to take over?

Yes
No

Question 10 Can the business survive without your active participation?

Yes
No