Business Succession Planning
If you die tomorrow, will your business survive?
Succession planning is a process, not a project. And failing to plan for the transfer of your business could result in you working longer than desired (in a best case scenario) or dramatic losses and hefty estate taxes for your heirs (in a worst case scenario).
What would happen to your business if you were incapacitated or could not communicate with anyone? Would your staff or family know how to operate the business, access critical business accounts, process orders, and pay bills?
What if you wanted to retire next year? Can the business survive without you and your expertise?
Having capable managers and/or interested family members is the ideal situation for every business owner. But even when this is not the case, we can help you to establish a succession strategy that will preserve your family's wealth, and hopefully also the future of your business.
Some additional services we offer the closely held and family owned business owner includes:
- Refinancing
- Expansion plans
- Fringe benefit planning
- Design of qualified plans
- Profit sharing plan administration
- Executive compensation planning
- Incentive compensation planning
Don't delay. Call us at 973-472-6250 to begin the planning process.
