Owning your own business is more than just a job. It is the place into which you have decided to invest most of your time. It represents both income and capital value for you and for those you care about most. But, it’s a unique investment that needs to be safeguarded. Some of the important questions we ask are:

• How can your business be used to provide financial security for you and your family?
• Who will take over your business in the event of your death, disability, retirement or decision to divest?

Business Succession Planning

If you own a substantial interest in a closely-held business, a succession plan may be the single most important component of your retirement and estate plan. Without an effective business succession plan, your death or long-term disability could mean the end of the business you worked so hard to build.

• Have you built the leadership in your company to pass to the next owners?
• Do you know the true market value of your business?
• Would your business be able to continue if a partner should pass away or become totally disabled?
• Are there funds available to buy the stock back from the deceased partner’s heirs or disabled owner?
• When the partner dies, can his or her family still be a part of the business that the partner helped create?

These are just a few of the many questions that can be answered through the development of a business succession plan.