I bought a domain for my work and when I retire I want to transfer it to my replacement. How do I do this without it costing alot of $$? Is one registrar easier to do this with than others? All of my personal domains are with godaddy and stargate but I registered this one with namecheap just for this reason.

Just update the whois info, and you are all set.

I thought that would do it but what if I sold one of my personal domains from godaddy? Just changing the contact info wouldn't work becuase I would still be logging in the control panel.

Create another account, update the whois info and push to the other account. Give the login to the other person and make sure he changes the password.

Super! Didn't realize that it was that easy. I just went and noticed the "Change account" button in godaddy's interface. My only other question is does the new registrant keep the remaining months/years or are they required to renew and start at that date?

They keep the current prepaid time, if you registered your domain for 10 years, and have used 3 years then the new registrant will have the domain for 7 years without having to pay anything extra.

However if the new registrant wants to switch registrar then he has to pay for at least 1 more year with the new registrar.