What is an exit plan?..  An exit plan comprehensively outlines and examines for an owner(s) the varying exiting options open for consideration.  It considers all personal and business factors unique to the business owner(s)’s circumstances and functions as a guide to help the owner(s) navigate business obstacles… even illustrating for the owner(s) and his advisors each alternative’s impact on the business, personal, family and financial exiting objectives of the owner(s)

In short, exit planning services seek to address ALL critical questions a business owner and/or his or her advisors must consider when contemplating the owner’s exit from the business.  Namely… ALL business, personal, legal, financial, and tax related issues as they pertain to the owner before and after each and every plausible “exit” from the business.

Without a business exit plan, most owners will typically:

·         Find themselves with little control over how and when they exit…

·         Fail to realize their personal, business, family or financial exiting objectives…

·         Undervalue their business when exiting…

·         Structure inappropriately… paying much more than needed in capital gains and/or estate taxes.  (Yes, an untimely death should be considered.)

·         See their business struggle and/or ultimately close; negatively affecting all the friends and family that have come to rely on the business’ success.

Conversely, the benefits of exit planning include:

• Provides control over exit…  (How & When)
• Helps ensure business and personal goals are met…
• Helps ensure the survival and future growth of the business…
• Helps preserve family harmony…  (Have you more than one conceivable heir?)
• Facilitates transition to retirement… (Many business owners find retirement as stressful as bankruptcy and/or divorce due to a reported loss of identity, purpose, and self worth…  Identifying these issues prior to retirement is important.)
• Reduces stakeholder uncertainty… (Stockholders, partners, employees, family, customers, suppliers, etc.)
• Ensures Company Value is always maximized…
• Defers, minimizes or even eliminates capital gain, estate and income taxes upon exiting…
• Provides strategic exiting options from which the owner can act upon as business variables change.

These services are true custom consulting services, as no two businesses are alike…  Such services are billed hourly by The Legacy Group at the blended rate of $200/hour for our involvement.  A team approach encompassing all your trusted advisors (attorney, financial planner, accountant, insurance agent, etc.)  may be required.  However, The Legacy Group will always attempt to structure a plan conducive to your requirements.

Exit Consultation Services