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At some point, every owner leaves his or her business, every owner has choices

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1) Sell the business to an employee
2) Sell the business to an outside party
3) Sell the business to a family member
4) Sell the business to a business partner

Or: Liquidate the assets and dissolve the business.


A succession plan is critical in assuring the future success of your business, and will also increase its economic value. An effective plan reduces stress and confusion for successors, and ensures that business owners can protect their financial security. The best succession plans consider both Planned Events and Unplanned Events.

Succession Plans for Planned Events...

are usually associated with an owner’s retirement. Often the owner’s largest financial asset is their ownership interest in their business. Transferring ownership efficiently considers both personal and corporate tax environments, and efficiently converts business value into the most possible after-tax income for the retiring business owner. The more you rely upon your business to one day provide retirement income, the more you need a clear and comprehensive Succession Plan.

Succession Plans for Unplanned Events...


are usually associated with a business owner’s unexpected death or disability.
Of course, no one is indispensable, but for clients of your practice or your business, it might be close. Consider what would happen to your business if you were unable to work for a period of time, or became permanently disabled. Would your income remain the same?
What would the value of your business and all the hard work and energy you have put towards it be, a week, a month or a year after you suddenly passed away?

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There are solutions...

The right business structure, Buy Sell agreements, Practice Continuation Agreements, Individual Pension Plans, Investment Holding Companies, Life and Disability insurance and Family Trusts and Personal Financial Modeling can make the difference between a comfortable future or one of uncertainty. An LBD Wealth Management Advisor can help you create and implement a tax effective and efficient succession plan that makes the most out of a life time of work and effort. Find out more, join us for a Complimentary Concept Meeting.

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