The accumulation of financial resources enables a business owner to become free of credit guarantees, initiate an exit strategy, and empower succession by transferring leadership and control of the business to partners, family members or key manager successors. When dealing with business succession planning, especially in terms of financial planning, it is essential to have the proper knowledge and experience.
Why Is it Important?
- The freedom to consider all viable business exit strategies without being forced into one solely based on your personal financial needs.
- The ability to protect your accumulated wealth that is critical to you and your family’s security. You maintain your privacy as you equitably transfer wealth, including the delicate business enterprise, to appropriate family members and charities.
- Creates the foundation for developing credit worthiness and transferring credit guarantees to family or key manager successors.