Business Planning

Buy Sell Planning 

This document is just as important as the keys to the front door. A Buy-Sell Plan is a legally binding contract that requires one party to sell and another party to buy a particular ownership interest in a business in the event of the death, disability or retirement of a partner or stockholder or upon certain other triggering events. It is a separate legal document that ensures that any ownership transition will occur as planned. 
What does your plan say?

Business Succession Planning

There are three alternatives at the death, disability or retirement of a business owner. One is for the business to be continued by family members if they are ready, willing and able to do so. Money may be needed to pay taxes and provide income during a transition. Second is for the business to be sold to associates (partners or co-stockholders or key employees). Money may be needed to fund a buy-sell agreement. Third is the business may be sold to 3rd parties or may have to be liquidated if other options don't work. Money may be needed to make up for loss value and income.  Are you prepared?

Key Person Planning

What would happen to your business if your most key employee was suddenly no longer a part of your organization?  This could be due to death, disability or, even worse, to your biggest competitor. Is there a way for you to help protect against this type of loss?  Glad you asked…