Business Succession
While the rewards of establishing your own business or healthcare practice are immeasurable, so too are the challenges. Balancing the financial needs of your company with your and your family’s personal needs can prove complicated, especially when making plans for the future. Whether you are selling your business, transferring ownership, seeking retirement, or facing a "forced-exit" such as bankruptcy or liquidation - planning your exit is a big undertaking that has implications on employees, your business structure, its assets, and your tax obligation.
By following five key steps relevant to most family businesses, the business can create a viable succession plan, provide for the financial independence of the exiting owners, and position the business for continued success and growth.
- Establish Goals and Objectives
- Establish a Decision-Making Process
- Establish the Succession Plan
- Create a Business and Owner Estate Plan
- Create a Transition Plan
Additional Capabilities
We also provide insight into a full range of business financial concerns, including:
- Employee retirement plans, including 401(k)s and pensions, 403(b)
- Stock and severance options
- Asset protection
- COBRA benefit plans
- Tax-optimized financial planning
- Estate planning
- Charitable gifting
Our expertise combined with a deep understanding of your vision and values can go a long way to creating a bright financial future for yourself, your family and your business.