Business Succession Planning
Ownership of a business allows you to build a valuable asset. In addition to the accumulated value of your business, it may also provide you and your family with necessary income.
Have you considered what would happen to the value of your business and the income it generates for you and your family, if something were to happen to you? Without advanced planning, a small business may be forced to liquidate upon the death or disability of an owner. In the alternative, the business may undergo a forced sale at a diminished value.
Through Business Succession Planning, small business owners have three alternatives to evaluate:
- Retention of the Business for the Family
- Sale of the Business to Co-Owners, Employee or Third Party
- Planned Liquidation of the Business
An analysis of these three alternatives allows you to determine which is most suitable to your situation, and can help you provide necessary funds to insure you business continuation goals are a reality.
It may help your business be better prepared in the event of the death of a principal or key employee.
To set an appointment to discuss your individual situation, please call us at (800) 925-2050 or send us an Email.