Business Succession Planning BUSINESS TRANSITION (family or nonfamily) Business ownership succession doesn’t just happen. Without a written plan, confusion and family disagreements are almost inevitable. We walk you through the process to develop a plan to meet your goals and assure you that your business functions smoothly during the transition. Stock redemption, cross-purchase and “wait and see” buy-sells are a few of the plans that can be custom-designed to help protect your business, your family and your employees. Read More Business Succession Planning A concern of every business owner is: what happens when I retire...or become disabled…, or die prematurely …? Without a plan, each of these scenarios is marked by uncertainty. A sampling of some of the unanswered questions: Retirement: When, how do I disengage; can I use the business to supplement my retirement income? Who takes over ownership and how? Who will actually run the business? Disability: If I’m disabled, who takes my place, and how is that decided? Will I continue to receive income- how? Is there insurance to provide income, or to cover business overhead expenses? Death: What happens if I die tomorrow? Who is a logical successor- family member(s), key employee(s), outside buyer? How will the transition happen? Will my family receive fair value if the business is sold, or will it be liquidated for a fraction of its true worth? Will children receive equal inheritances? Without a plan, each of these questions is a potential storm brewing. The professionals at Willard Financial Group will help you navigate through these waters to produce a plan that will address these concerns, with these benefits: A written plan providing certainty for you, your family and your employees. Willard Financial Group recognizes that things can change-sometimes overnight, so the plan includes flexibility to address new circumstances. Our team approach integrates and coordinates your retirement planning, planning for business continuity, and ultimate transfer of ownership. One-stop capability allows uninterrupted focus on developing, implementing and maintaining the right plan for your unique needs.