• Plan For Your Succession


  • WARNING: Passing Your Business to a Family Member or Associate Can Be a Risky Proposition.

    About 70 percent of the time a family owned business does not survive through a transfer to another generation. There can be many reasons behind this failure like losses due to estate taxes or some type of family discord. It can come down to the lack of proper planning which can be due to the discomfort of discussing topics like aging or death. Our financial professionals can provide support by helping to clarify and finalize plans for succession. We can also help you provide legal weight to your choices and priorities. We can help ensure you that the business will survive through future generations.

    We can offer you professional guidance when dealing with issues such as:

    • What will happen to my business? We can help you keep it in the family, sell it to another party or pass it on in some other fashion. Our professionals can help you as you consider the advantages and disadvantages of every available option and help you choose what will work best for your retirement.
    • Who will run the business? Owning a business and managing it are two separate things. If you retire or pass away, how will it affect business decisions? Will your children desire to actively run the business, or just want to be an owner? We can help you clarify what you expect from the business in advance and help you legalize your choices. We can also help set up the transition of ownership so that it occurs smoothly.
    • How do you handle the tax burden of transferring a business? Taxes are a reality no matter how a business is transferred. Our financial experts can review all your options so that you can make an educated choice that will offer support to your family members.

    A family business is an inherited asset which can cause undue strain and stress for other members of the family. We will work closely with you to help prepare family members for the transition. Family members can be informed of the tax implications that may occur and the decisions that will be involved in managing or owning a business.  Our professional staff help prepare you and your family for successful succession.

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