It may well be a good idea for you to stay on as an adviser, but on the basis that you give advice only when asked for it. Otherwise both your successor and employees become confused about who is really in control, and the business suffers.
If you have been a director of a family company, this approach would normally mean that you resign your directorship. You should bear in mind that if you continue to exert an influence through the other directors, you might be considered a 'shadow' director of the company. If the board of directors subsequently faces a claim (for example, for wrongful trading) you could also be held liable.
