Making the Most of Your Business
Interest in a privately held business is often the most significant asset held by a business owner. Exit planning helps business owners determine when they would like to leave their business, who they would like to leave it to, whether to sell, and how much cash they need to realize from the transaction.
Most business owners wonder "How much is my business worth?" and about the timing or process of moving out of ownership or day-to-day operations. Exit Planning defines your unique issues and brings together your business, personal, and family financial goals.
Exit Planning includes:
- Capital Needs Analysis to evaluate the likelihood of meeting the business-owner's retirement goals, given the business value, other assets, and desired lifestyle.
- Review of factors that affect business value and risk in order to evaluate the likelihood of attaining established goals.
- Strategies for transfer to family members, co-owners, or employees.
- Creating a business contingency plan in the case of the death or disability of the owner.
- Legacy planning to create continuing significance for the owner's family and other beneficiaries.
- Coordination of professional team, which may include accountant, appraiser, broker, and attorney.
