There is a cost to an unimplemented succession, trust and estate plan sitting on a shelf gathering dust, just as there is for business owners whose procrastination have left them without one. Either way, not having a well-designed transition plan can result in significant costs and risks to business owners, such as:
- Undervaluing your company, leaving hard-earned wealth on the table
- Paying too much in capital gains and estate taxes
- Losing control over the timing and terms of the transition process
- Failing to realize your personal, financial, and/or business goals
You’ve likely asked yourself the following questions at some point:
- How much income will I want the business to pay me during my retirement?
- Who would be a good potential buyer of the business?
- What is the business worth, and what would I sell it for?
- If I lost a key employee, how would it impact the business?
Complimentary Review Services
If you have not yet resolved these fundamental issues, don’t worry. Our complimentary review services can give you confidence and prepare you for the future, so you can focus on day-to-day challenges. Here are two substantive deliverables in our quest to help coordinate the buy-sell agreement, business valuation, and agreement funding while keeping you covered from the unexpected:
- Informal Business Valuation and Business Planning Report – The value of your business can impact your retirement income planning, buy-sell agreement funding, business protection and estate planning. Our team of CPAs, attorneys and consultants provides a planning report based on five commonly used valuation methods . . . all at no cost to you.
- Buy-Sell Review – Our professionals will also review your buy-sell agreement and highlight recommendations based on your current business needs, including a summary of funding in place and options for meeting funding deficiencies.
Please see “Integrated Financial Planning“