Exit Planning Tips

  • A limited number of states in the United States provided for an Asset Protection Trust, that allows you to avoid or reduce taxes paid upon transfer of any of the trust assets.

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    For some business owners, it may be useful to continue to manage your business, but to take out some of your equity by selling part of your company to private investors.

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  • During the preparation phase leading up to a sale transaction, one should consider having disability insurance to protect both the company and your family.

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    For a family involved business it may be appropriate to create a Family Council as part of the exit planning process.

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  • Often a step missed in planning for the sale of a business is for the seller to conduct an accounting and legal due diligence process on their own assets and legal documents.

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    Make sure that key employees stay around until the exit event and sometime even afterwards.

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Exit Planning Benefits

There are many benefits to exit or transitional planning for the business owner:

  1. Helping to achieve your business and personal goals.
  2. Controlling how/when to exit.
  3. Maximizing company value.
  4. Minimizing, defer, or eliminate capital gains, estate, and income taxes
  5. Facilitating your retirement.
  6. Ensuring the survival and growth of the business.
  7. Preserving family harmony.
  8. Defining strategic options from which to choose.
  9. Creating a well understood process to be followed.

What You Need To Do

If you are a business owner and looking to exit or transition your role in relationship to your business, there are three steps that need to be taken:

  1. Commit to developing a good exit plan.
  2. Create a comprehensive, custom-tailored exit plan that meets your objectives.
  3. Stay on track in executing your plan.

What Resources You Will Need

There are a variety of resources that may be useful in creating your exit plan:

  1. Estate Planners
  2. Business Attorneys
  3. Insurance Professionals
  4. Accounting Firms
  5. Business Brokers
  6. Wealth Management Advisors
  7. Valuation Experts
  8. HR Attorneys
  9. Other Specialists

We have assembled a team of specialists in each area.

How We Help You Succeed

There are several ways in which Picus Enterprises can help:

  1. Help you assess where you are and where you are going
  2. Help you create an exit plan, customized to your needs
  3. Help you create a process that will keep you focused on your defined exit planning tasks
  4. Help you understand how much your business is worth
  5. Help you maximize the value of your business
  6. Help you deal with the many issues that get it the way
  7. Help you prepare for retirement