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Business Succession Planning

Help secure the legacy of your business

Help secure the legacy of your business

As many privately-owned businesses mature, the owners and/or original founders are often confronted with the task of facilitating the orderly and tax-efficient transfer of their companies with minimal disruption to the business operations.
Whether the transfer will occur to a family member, key person, partner, or unrelated party usually requires advanced planning.

There are many ways to help secure the legacy of your business, but the first step is to build a sound strategy to meet your individual situation.

Funded Buy/Sell Agreements

Funded Buy/Sell Agreements

Legally binding contract that establishes under what conditions, to whom and at what price an owner, partner or shareholder can or must sell his or her interest in the business. Often, these agreements are funded with permanent life insurance because it can protect your business and your family throughout your life, while providing assurances that your business will continue on your terms.

  • Key Person Protection

    Key person protection is simply life insurance on the most important person or people in your business – those who play a critical role in keeping your business running as it should.

  • Installment Sale

    This is a way to generate tax preferred income during the transition of your business to another party.

  • Outright Gifts

    Sometimes, a gift of your business interest to family or various types of trusts may be the right choice for your succession and estate planning goals.

  • Grantor Retained Annuity Trusts

    This a popular type of trust that can help minimize taxes on transfer of your business interest.