We have years of experience assisting our clients in succession planning and transferring businesses to qualified new owners.
We stand ready to help smooth the way into your future by readying your business for sale, planning for the transition, and preparing your business and personal finances for the future.
We start by listening to your objectives and then we develop the optimal strategies to realize the goals you’re interested in accomplishing.
Based on your desires, we develop a timeline for the exit and build a wealth management program to achieve your objectives.
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Asset review and succession planning
Choosing to exit a business has many repercussions, both financial and emotional. We help analyze your current financial status and lifestyle needs as an essential step in ensuring a smooth transition and continuation of the benefits business ownership has created.
Depending on the specifics of your situation, we’ll determine the Business Owner Succession profile that most closely matches your existing financial and mental readiness.
Improving the presentation of your financial results and profitability
We’ll help you review existing income streams and highlight current and future profitability. Goals include: paying down debt, reducing costs, positioning your business in the market and establishing your goodwill within the community.
Developing succession transfer options
Prior to selling there are many well-established strategies to make the most of your windfall. Reducing tax exposure and avoiding unnecessary capital gains are essential to protecting your assets. The value that you receive for your business will largely be determined by how much control you want to maintain over time. For example, more control equals less value.
Significant long-term benefits can be realized by rolling over 401(k)s, retirement accounts and other company-related financial instruments. Planning for your retirement changes considerably when you are in the post-exit phase. It is extremely crucial to get your exit right as 80% of business owners have 90% of their net worth tied up in their business.*
Taking the plunge
Once you are prepared for an exit, we can advise you during the transition process and bring into play the wealth management strategies that will protect your assets, avoid unnecessary tax liabilities and ensure a secure next chapter. Building your business is an accomplishment that you deservedly want to benefit from as fully as possible. We’re with you all the way.
*Master Plan Exit Strategy, Peter G. Christman