Succession Planning

You've worked hard to build and grow your business. It is your current source of family income and your source of retirement income. What steps have you taken in the event of your death or disability? Do you know what your business is worth if you needed to use assets or wanted to sell?

It is important to clarify the following six steps to ensure that you are able to achieve your goals. Explore the steps below. If you answer “no” to any of the questions or cannot answer, we need to talk. Call us for a complimentary review. We can help!

Exit planning

  • Have you established a definite time period to transfer your business to a specific party at an established price?

Retirement income

  • Are you or your key employees able to set aside enough money for retirement considering the limited amount of contributions that can be made to an employer-sponsored 401(k) or other retirement plan?
  • Do you have fringe benefits in place to help you recruit, reward, and retain key employees?

Business protection

  • In the event of a death, resignation of a key employee, or a future change in management, would your business be able to continue successfully?

Wealth transfer

  • Is your will/trust current, and does it accurately reflect how you want your assets distributed?

Survivor income

  • Will your spouse and beneficiaries be able to maintain their desired standard of living if you were to die?

Income protection

  • Upon an accident or severe illness, would you be able to meet present financial obligations?