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What Happens to Your Business When You Die?

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many @ Varies

Description

Date posted: 27-Mar-2020

WHO WE SERVE

We are dedicated to professionally supporting, educating, and providing informed direction to each and every client.

Business Owners generally have a singular focus; growing their business. And because of this, they tend to let the other aspects of their financial lives fall behind. While focusing on making your business successful is the best investment that you can make, special planning should be done in an effort to ensure that you (and your business) are protected from the unexpected and that your resources are being used as efficiently as possible. There are also strategies with a goal to help you lower your tax bill, put more money away for yourself, and hire and retain the best talent available to you.

Business Succession Planning

Absent a written agreement, the competing interests of the business and the family members could lead to major conflicts, litigation, and possibly the forced sale of the business. A comprehensive review of the goals of all the parties involved in a business succession plan seeks to eliminate undue hardship, costs, and damaged relationships. In addition, a buy-sell agreement can help ensure that the business interest of the deceased owner transfers properly.

Estate Planning

Planning for the transfer of assets at death is a critical element of retirement planning. It ensures that the wishes that you have for family members, friends, and the organizations that you hold dear are executed in accordance with your desires. Proper planning for estate transfer can be as simple as drafting a will, which is essential to ensure that assets are transferred according your wishes. Larger estates may be confronted with settlement costs and sizable estate taxes which could force the sale of treasured assets if the proper planning is not done.

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Gene Townley

Michelle Durden

Orange Beach, AL 36561
(P) 251.706.2516
(F) 678.298.8951
Email: Michelle.Durden@itex.net
Web Site: http://gulfshores.itex.com