The least desirable method for business owners to divest themselves of their business ownership is liquidation of the company, and is not usually considered an alternative in succession planning because the business ceases operation. However sometimes liquidation of the assets is the best way for the owner to get the highest price for their business.
Succession planning is about taking control of the inevitable; eventually, every business owner will leave the business. If no planning is done, lawyers and the government will control the process. But if the owner plans for an orderly transfer, he or she can reduce the taxes paid, get the maximum value out of the business, leave it in the hands of chosen successors, and avoid family and business crisis.