Forethought can make all the difference.....
It is a shocking statistic, but according to the Family Business Institute, Inc., fewer than one in three privately-owned companies outlive their founder. Yet the real tragedy is that many of the failures could easily have been avoided by implementing a solid succession plan. What is more, survivors are often needlessly burdened with tax and other financial drags that also could easily have been side-stepped with some foresight. In business there are many chances to adjust to changing markets and seize new opportunities, but when it comes to business succession, you get just one chance - and it needs to be right.
Building a business has been great.....but what about protecting it?
Nothing is more rewarding than building a business, watching it grow, and sharing the rewards with the people who helped make it happen.
Family and privately-owned businesses possess a special loyalty and dedication that other businesses don’t seem to produce. Sometimes an entire life’s work is spent nurturing a business so that it will stand the test of time.
We appreciate all of the important ingredients that go into maintaining and growing a privately-owned business. Our advisors take the time to thoroughly understand your goals - business and personal - and your unique concerns. Our advisors are skilled at providing leadership; building strong relationships; and creatively applying resources to develop solutions. Our advisors can help you accumulate, protect and distribute personal and business assets through comprehensive, custom-tailored advanced planning for yourself and for those closest to you.
It’s just not enough to simply transfer ownership of your assets at retirement or through your will and hope everything will work out. With laws and regulations continually changing, it takes dedicated specialists to help map out the most effective after-tax strategy to increase the odds that your company survives. We can help. Our advisors have more than two decades of experience helping private business owners and other high-net-worth individuals plan for their financial future.
  • Who will be the next owner of my business?
  • Who will be the next leader?
  • How will I meet my income needs as I decrease my involvement in my business?
  • How can I create financial independence outside of my business?
  • How should I plan for my spouse’s security?
  • What are the tax ramifications of my business succession plan?
  • What estate planning techniques can I use to reduce estate taxes that are consistent with my objectives?
  • Where will my family get the cash needed to pay the unavoidable estate taxes?
  • How should I treat the children who are active in the business and those who are not?
  • What makes sense for my children’s spouses?

Often these difficult issues are too emotional and uncomfortable for parties directly involved to discuss openly, so the business owner often becomes isolated in the decision-making process.

Our advisors will help guide you through a process that emphasizes the integration of personal and business objectives. Our advisors will meet with the key people involved and discuss personal and company goals and then help the group reach a well-considered resolution to every issue.
Our advisors' role is to help you manage these issues effectively by adding specialized knowledge and professional objectivity to the process. They have been helping families design comprehensive business succession plans for over 20 years and are well versed in all the issues that critically affect family businesses. As an objective third-party, they can serve as a buffer, which is especially useful in cases where there is confusion; or the potential for conflict among family members; or between a family member and a loyal employee; to make recommendations that you may feel uncomfortable articulating or making yourself.
We believe every successful business owner has three plans. The plan you think you have, the plan you actually have, and the plan you would like to have. Our job is to help you make the plan you would like to have a reality - and keep it that way. Our breadth of knowledge and experience in what makes family businesses unique helps us guide you - in concert with your professional advisors - to a sound plan for smooth succession.