For Business Owners and Key People

Some Questions to Consider:

Concerns/questions during ownership:

Many of the following questions can be addressed with no real “cost”, rather a shifting of resources.

  • How will I assure a satisfactory retirement income?
  • How can I minimize the impact of taxes?
  • How can I keep liquid cash available and growing?
  • Can I retain key people, even during a transition such as the sale of my business or my death?
  • Are there ways to “handcuff” them, potentially increasing the business value and lowering risk?
  • Will they be “on board” when there is a transition or, out of fear or greed, will they look elsewhere for safety or opportunities?
  • Can I protect my assets from predators?
  • Is it possible to hold cash for potential venture capital, make a certain%, and have liquidity?

Concerns when exiting/selling:

  • How much can I get for my business?
  • Will I be satisfied with my income after I sell this business?
  • Do I want to look at discounting the value of the business, using tools such as minority interests?
  • Can I implement a key person bonus program to go towards a down payment in equity buyout? ..Or as incentive to stay on with the new owner?
  • Can I do such a thing without a burdensome pull on cash?

Concerns at death:

  • How will business maintain its value, get sold or managed if I die?
  • If I die and its’ not sold, what happens?
  • Will my family have enough financial security if I die?
  • Will my key people run, manage, maintain and/or sell business after my death?
  • Will competitive forces cause problems with client relationships and staff retention?
  • Will my kids be spoiled by inheritance or will they seize the opportunity?

Concerns regarding estate planning:

  • Can I shifting business growth out of my estate?
  • How will I be able to equalize inheritance?
  • How can I protect assets?
  • I have 3 potential beneficiaries: family, government, charity. Are there any uninvited guests? Should I include or exclude any of these?
  • Do I have clear vision of how things will play out for beneficiaries?
  • Can my beneficiaries avoid taxation: Estate, Income, other?

If any of these questions make you stop and think, then we should talk.

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