BUSINESS SUCCESSION

RETIREMENT PLANNING FOR BUSINESS OWNERS

By |2021-01-27T12:26:16+00:00May 21st, 2018|Categories: BUSINESS PLANNING, ESTATE PLANNING|Tags: , , |

For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings. But, when you’re the owner of a business, planning for retirement requires proactivity and strategy. It’s not just the dizzying array of choices for retirement accounts, there’s also planning for the business itself. Who will run the business after your retirement? Additionally, your estate plan must integrate into your retirement and business transition strategy. Owners of businesses (like employees and everyone else) want to make sure they will have enough money in retirement. [...]

REWARDING YOUR EMPLOYEES BY GIVING THEM THE BUSINESS

By |2021-01-27T12:01:27+00:00April 30th, 2018|Categories: BUSINESS PLANNING, ESTATE PLANNING|Tags: , , , |

Retiring from your business can a tough decision.  To ensure that what you have built continues on, there needs to be a plan for succession.  For some people, they have spent years grooming a child or other family member to take over, wanting the business to stay in the family.  Others look to sell to a third party for a quick way out that will also give them a nest egg for their next phase of life.  However, there is a third option–transferring the business to your employees.  If you like the idea of transferring your business to long-time faithful employees [...]

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