Established Business

 

Challenges 

  • Business succesion and exit planning
  • Minimizing taxation on the business
  • Leave legacies to families and institutions
  • Sufficient retirement income
  • Management of business
  • What to do with yourself after you sell

 

Risks affecting the family and business

 

  • death of owner of shareholder
  • accident and or illness affecting shareholder
  • death of key employee
  • insufficient cash to fund retirement
  • Staying too long in the business

 

Solutions to consider:

 

  • Make a transition plan
  • Move money out of the operating company
  • Life insurance
  • Long term care insurance

 

 

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