The Ascent — hosted by Sam McGee of Crestmont Private Wealth — features attorney Wes Holland of H6 Law discussing business succession planning. The conversation highlights why a standard will is not enough for business owners and what steps they can take to protect their companies.

Key takeaways:

Wills only work when you're dead — powers of attorney and medical directives are often more critical, as they govern what happens if you're incapacitated but still alive.

Only ~10% of closely held business owners have a true succession plan — the other 90% are unprepared.

Short-term fix: Document day-to-day operations so a trusted employee can "keep the plane in the air."

Long-term fix: Identify and develop key employees; consider giving them authority (and even equity) so the business can run without you.

Buy/sell agreements matter — especially with partners, so no one is forced into a business relationship they didn't choose.

Sam shares his own experience making Alec and Hannah Phantom Equity Partners at Crestmont for business continuity — and how it brought him tremendous relief.

Book recommendation: Traction by Gino Wickman.

Contact Wes Holland: h6law.com | wes@h6law.com

Timestamp      Topic

0:00     Intro — Sam McGee welcomes Wes Holland

0:21     Why wills alone aren't enough for business owners

0:47     Business succession planning basics

1:25     Incapacity vs. death — who runs the business?

2:05     Steps owners can take to insulate themselves

3:11     The "flying the plane" analogy

4:15     Signs you have a problem: total control = total risk

4:36     Developing Gen 2 leaders — reluctance vs. results

5:36     Sam's experience: Phantom Equity for Alec & Hannah

7:39     The danger of reluctance to delegate

8:29     Back to the legal side: wills vs. succession plans

8:50     Only 10% have a real business succession plan

9:23     Buy/sell agreements and partner planning

9:53     Call to action + book rec: Traction by Gino Wickman

11:02  Closing — Crestmont & H6 Law contact info

Original Air Date: May 23, 2026 at 8:30am as heard on Boerne Radio 103.9FM

Contact:  www.crestmontpw.com 

Alec Walker in Houston:  831-280-5288 

Sam McGee in Boerne: 830-368-2898