Succession Planning

Succession planning involves several significant issues for business owners. There is no one-size-fits all approach to keeping the business in the family. The tools and techniques best suited to a particular business are fact-specific. Life insurance and disability insurance can play an important role in helping a business survive and thrive as it moves from one generation of owners to the next.

Our team identifies the business owner’s objectives and develops a comprehensive business plan during the owner’s lifetime and following the owner’s death. We work to identify each specific goal, and then address the goal in a manner that satisfies the owner. We can advise on the effective use of life insurance to provide liquidity to family members and partners following a shareholder’s death. We provide financial equalization tactics for family members do not wish to participate in a family business. Our team works closely with tax attorneys and accountants to effectively reduce estate, gift, and income tax concerns as well as provide funding strategies for excess tax liabilities.

Additional Resources