Business Continuation

As a business owner you want the best for your company. You want to provide solutions that are customized to the way you do business. You need a company that has the expertise to analyze, design and implement programs, such as, employee benefits, executive compensation, business succession planning and retirement plans.

We can provide the consulting, communication and administrative support services that your company needs. We will review existing programs and suggest desirable additions or modifications which ensure cost-efficiency. Our services will also be designed to best support your company’s mission, objectives, strategy and culture.

Business succession, sale and benefit planning

There are two basic options for developing your plan for when and how to transfer ownership of your business - transferring your business interest or selling your business interest.

Transfer your business interest:
• A ready buyer is provided
• You choose the event triggering a sale
• Price and sale terms are prearranged
• Your estate planning goals should be coordinated with the terms of the buy-sell agreement

Through lifetime gifts:
• Reduces the value of your estate and could lower your estate taxes
• Offers the advantage of the annual gift tax exclusion, which may help reduce total gift and estate taxes
• Requires giving up part or all of your business
At death through your will or trust:
• Will provisions can authorize business continuation
• You can see your continuation plan in action with a living trust
• A living trust can provide income to you or your heirs
• Using a trust can be efficient and private
• The larger your business interest relative to your estate, the greater need for cash to settle estate expenses

Selling your business interest:
• Allows you to receive cash (or convertible assets) and choose the timing
• A limited market means a sale could be difficult
• For larger business interests, it may be more difficult to find a buyer with access to cash/credit on short notice
Sales considerations for selling to non-family:
• Selling shares or assets
• Using a buy-sell agreement when selling to non-family
• Selling to another corporation
• Structuring tax-free sales
• Structuring taxable sales
• Using charitable remainder trusts