Succession Planning Document Checklist (BVD 2.0)

 

PERSONAL DOCUMENTS:

  • Will – Client
  • Will – Spouse
  • Trust Documents (as Grantor or Beneficiary)
  • Personal Financial Statement
  • Monthly or Quarterly Investment Reports or Statements
  • Investment Listing
  • Life Insurance Policies & current statement of values, if available
  • Disability Insurance Policies & current statements, if any
  • Accident & Health Insurance Policies
  • Form 1040 Income Tax Returns (most recent 3 years), including Form K-1
  • Form 709 Gift Tax Return
  • Current Pay Stub
  • Property or Investment Agreements
  • Property Settlement Agreements
  • Pre/Post Nuptial Agreements
  • Retirement Plan Statement / Investment List
  • Divorce Decree
  • Options Statement and Plan Document
  • Severance Agreement
  • Employees Benefits Summary (SPD)
  • 3-6 Months Bank Statements
  • 3-6 Months Credit Cards Statements


BUSINESS DOCUMENTS:

  • 3 years of CPA/Accounting prepared statements; by year; include Income Statements; Cash Flow and Balance Sheets
  • Current Year-to-Date Financial Statements
  • Year-to-Date Aged A/R and Payables Report
  • 3 years Company Tax Returns
  • 3 years Chart of Accounts and General Ledger
  • 3 years Sales, Use, and Excise Tax Returns
  • 3 years Payroll Tax Returns
  • Correspondence documenting all tax audit activity for all entities
  • 3 years all bank statements, by month
  • Year-to-Date reports of inventory and equipment
  • Listing of key contracts, leases, agreements, etc.
  • For current year – if available
  • Current Business Plan - Should include financial pro forma; marketing plan; action plan for improvements; capital expenditure – if available
  • Organizational Chart - Include title, years with company and compensation
  • Products/Services - Break-out of products and services by dollars by location
  • Description of Process Chain - Brief description of operating steps required to provide major services
  • Employee Benefit Summary
  • Employee Policy Manual
  • Employment contracts if applicable
  • Payroll process
  • All business related insurance – benefits, worker’s compensation
  • Marketing - Description of how firm creates markets for its current services
  • Sales - Description of how firm converts marketing opportunities to sales
  • Customer Analysis - Total active customer count by year for last three years and year-to-date; percentage of revenue by top 20 customers by year for last three years – if available
  • Customer Analysis - Sales by customer
  • Competitors - Brief description of competitors
  • Sales Material - Sales information, pamphlets, brochures, other information that details products and services – if available