Knowledgeable Aging

Resources for the Aging Population

Understanding the need for Business Succession Planning

Once an endeavor produces a profit, it is a business and not a simple hobby. Many people have legitimate business enterprises that require succession planning, in the event of death or disability. However, many have also failed to plan for the transfer of such business enterprises, which creates an added complication for the estate administration/probate process. The purpose of this session is to identify common attributes and pitfalls of a family-owned business, while also identifying ways in which business owners can begin planning for succession of their business interests.

Listen to the Podcast

  • 2:10 – What is a business
  • 7:51 – What is business succession
  • 11:55 – Why is business succession planning important
  • 15:29 – Failing to plan
  • 21:35 – Planning considerations
  • 29:14 – Questions
Shari H. Fleming, Esq., AEP®

Shari Fleming is an Accredited Estate Planner® focused on helping individuals and businesses reach their goals. She is Principal of the Law Office of Shari Fleming, which is a law firm
dedicated to serving with excellence and integrity throughout every transaction, committed to encouraging individuals and businesses to innovate and grow, and devoted to securing, maintaining, and transferring wealth to future generations. The firm’s areas of legal practice include business formation and succession planning, real estate, estate planning, and estate administration.

Shari Fleming received a Bachelor of Science in History, a Bachelor of Science in Black Studies, and graduated Magna Cum Laude from Lincoln University, Pennsylvania. After graduation, she attended the University of Maryland School of Law, received a Degree of Juris Doctor, and was admitted to the Maryland State Bar in 2008. She is commissioned as a Notary Public in the State of Maryland, licensed as an Associate Real Estate Broker and Title Producer in the State of Maryland, and has been trained as a court designated mediator of civil disputes.

In addition to practicing law, brokering real estate transactions, and mediating, Shari serves as an adjunct professor, and has taught community college to graduate level law courses. Currently, she teaches at the University of Maryland Global Campus and Howard Community College and facilitates real estate continuing education courses. Through higher education, she also serves as a Business Coach.

In 2020, Shari founded the Our Legacy Matters community with the purpose of advancing the concepts of ownership, wealth maintenance, and wealth retention within communities of color. Most recently, Shari Fleming has been named one of The Daily Record’s 2021 Leadership in Law Generation J.D. honorees, due to her dedication to the practice of law and her community!

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