Dictionary of Exit Planning Terms

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Exit Planning Tips

Asset Protection Trust

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.

Create A Family Council

For a family involved business it may be appropriate to create a Family Council as part of the exit planning process. This council would consist of all family members working in the business or impacted by the sale or business transition.

Disability Insurance

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

Seller Due Diligence

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.