Meeting Life After Business Goals

Wealth Transfer From Business OwnershipThe oldest wisdom in the world is to start with knowing where you are and where you want to go. The key then, to beginning the exit planning process, is to clarify the endgame, taking into account the likely value of extracted business wealth.

  • Legacy Goals – what will have been your contribution?
  • Lifestyle & "Life after Business" Goals – what do you want from the next phase of your life?
  • Estate Planning Goals – how will you ensure that your estate passes to your heirs in the most tax efficient way?
  • Exit Strategy Goals – based on all of the above, what are the priorities to be met by your selected exit strategy as to time, wealth, risk, and cash flow?

Reconciling Expected (where you are) vs. Targeted (where you want to go) Wealth Transfer

“Closing the Gap” is a process of evaluating combinations of strategies that will yield a release of wealth compatible with achieving the specified goals. It may also involve modification of the goals. There are numerous gap-closing strategies to discuss.