The last step in your Exit Plan is Wealth Preservation Planning. But that doesn’t mean you should wait until you are out of the business to begin actively preserving your wealth. In fact, if you wait until the value of your business is converted to cash, it may be too late to realize all of [...]

For many owners, the answer to one question determines their eagerness and ability to leave their companies: “How much is my business worth?” This question is indeed critical and answering it is the second step of your seven-step Exit Plan.
Take Ron Nee, the owner of Landscaping Supply Company, as an example.
Ron was ready — and [...]

We’ve talked about some important steps in developing a successful business exit plan: Setting a tentative Departure Date so that Advisors can put all planning efforts in context;  assessing your post-retirement financial needs because meeting them is a key measure of your Exit Plan’s success; choosing a successor to give structure to your Exit Plan. Keep in mind, it is not [...]

 
What exactly is a Business Exit Plan and how do you create one that allows you to leave your business in style. There are an infinite variety of businesses and business owners. Each owner’s exact Exit Plan will vary, yet most all contain common elements. 
The following questions will serve as a framework to develop a Business Exit Plan. [...]