Directories

Service Category

Financial Services

Business Description

Business Retirement Plans: To fully control their retirement, business owners need to set aside dedicated funds, and the tax benefits and the benefits of employee recruitment and retention are significant. Business Continuation Planning and Buy/Sell Agreements: Any time there is more than one owner, they need a buy/sell agreement. Who owns a business after an owner dies is critical to its continued success. Insurance is a very favorable way to fund for such events. Buy/Sell agreements also protect owners in other events, such as divorce and disability. In addition, this ties with the owner's personal estate planning. Key Person Insurance and Deferred Compensation: Does the business rely on key people? For example, does the commercial bakery rely on its employee-chef for new recipes for customers? What would happen if he left or died? Key person insurance can provide funds to replace him if he died, and deferred compensation plans can provide additional retirement funds for key people. Banking and Mid to Long-term Investments: Successful businesses often have several months of operating funds on which they seek returns. Or they may be accumulating funds for expansion or growth. Help them manage these funds for better returns. Sales Proceeds: A business that sells produces cash that will either be used for the next business deal, or to fund the business owner's lifestyle or retirement for years to come. Succession and Estate Considerations: Clients who desire to keep the business within the family, or sell to employees, must address how to accomplish this, not only from a business planning perspective, but also within their estate and gift plan. Tax laws significantly affect many of the available strategies, and insurance may provide needed funding for purposes from liquidity for estate tax to balancing an estate with family members not receiving business interests.