Based on our years of experience working with hundreds of business owners, we have developed the following blueprints to help you get results quickly and effectively on very specific issues. Please click on one of the blueprints to view a full description.
- 1. Sale of Business
Sale of Business
- Total systemized business
- Put business in growth mode
- “Hands Off” business by you
- Lock in Key Management Team
- Attract several potential buyers
- Receive maximum cash from sale
- Leave when you want to leave and not stay unless you want to stay
- Have a plan what do with the rest of your life
- You control the sale process
Tools
- Market Value Drivers
- Systemizing the Business
- Golden Handcuffs for the Management Team
- Controlled Auction Environment for the Sale
- 2. Blueprint for Inside Transition (Family, Co-Owners or Key Employees/s) The Starter Session
Blueprint for Inside Transition (Family, Co-Owners or Key Employees/s) The Starter Session
- Make sure new owners can run the company without you
- Delegate what you are currently doing
- Teach employees to be employers
- Put business in growth mode
- Guarantee income stream from the sale
- Minimize taxes to you Minimize taxes to the sellers
- Guarantee that you will not end up with your business back
- Have a plan what to do with the rest of your life
- Lock in Non-Owner Managers.
Tools
- Market Value Drivers
- Systemizing the Business
- Golden Handcuffs for the Management Team
- Well Designed Transition Plan
- 3. Passive Ownership
Passive Ownership
- Learn how to be away from the business
- Delegate your current business responsibilities
- Teach employees to be employers
- Put business in growth mode
- Teach new capabilities to new management team
- Clean up all “Messes”
- Guarantee that business can run without you
- Have a plan what to do with the rest of your life
- Lock in Non-Owner Managers
Tools
- Market Value Drivers
- Systemizing the Business
- Golden Handcuffs for the Management Team
- Well Designed Transition Plan
- 4. Premature Death
Premature Death
- Identify Cash Needs that will arise at Death.
- Guarantee Family’s income and standard of living.
- Finance any educational needs
- Determine additional capital required to provide for survivor needs
- Who will operate your business for the immediate future and how do we guarantee that they will stay.
- Should the family retain the business?
- Should the business be sold?
- Should the business be liquidated on a planned basis?
- Does your estate have sufficient liquid assets to pay estate taxes?
Tools
- Survivorship and Income Needs Analysis
- Federal Estate Tax Liquidity Analysis
- Written Contingency Plan
- Document Last Wishes and Desires
- Stay Put Contracts for “Go to Employees”
- 5. Disability
Disability
- What can happen if disability strikes.
- What sources of funds might be available to replace your income during disability
- Need to preserve your independence
- Need to maintain your lifestyle
- Protect your assets from liquidation
- Should the family retain the business?
- Should the business be sold?
- Should the business be liquidated on a planned basis?
Tools
- Income Needs Analysis
- Determine Available Sources of Income during Disability
- Written Contingency Plan
- Stay Put Contracts for “Go to Employees”
- 6. Retirement
Retirement
- Odds of living until retirement
- Determine sources of retirement income
- Can you maintain your standard of living?
- Should you defer retirement?
- Important facts about Social Security
- How much income will you need?
- Power of Tax Advantaged Savings
- Inflation will not retire when you do
- Retirement Planning Options
- The Disposition of the Business
Tools
- Retirement Income Analysis
- Determine Available Sources of Income During Retirement
- Social Security Benefits Statement
- Design Exit Plan from Business
- 7. Wealth Accumulation & Asset Protection
Wealth Accumulation & Asset Protection
- Systematic Savings
- Total Control
- Flexibility
- Risk Tolerance Assessed
- Diversification
- Tax Deferred Growth
- Tax Free Access
- No IRS or ERISA involvement
- Survivorship benefit in the case of premature death
- 8. Key Employee Retention
Key Employee Retention
- Business success dependent on key employees
- Determine financial impact of losing a key employee
- Prevent key employees from going to competitors
- Offering selective benefits to key employees
- Eliminating replacement costs and reduced profits from employee turnover
- Teach new capabilities to new management team
- Golden Handcuffs
- Indemnification for the death of key employee
Tools
- Deferred Compensation
- Bonus Plan with Termination Penalties
- Restricted Executive Bonus Access Plans
- Key Person Insurance
- 9. Legacy Planning
Legacy Planning
- Income for future generations for education
- Income for future generations to purchase homes
- Income for future generations to start a business
- Income for future generations to educate their children
- Income for future generations to retire
- Minimum time to fund the plan
- Plan funded with Tax Advantaged Dollars
Tools
- The Blueprints Legacy Plan
- 10. Orderly Estate Distribution
Orderly Estate Distribution
- Preventing “Unwanted Heirs” from taking their portion of the estate
- Reducing the high cost of dying
- Avoiding Probate
- Eliminating Estate Taxes
- Arranging estate so assets will be distributed the way you want them to be
- Reviewing current estate planning documents
- Updating current estate planning documents
Tools
- Estate Liquidity Needs Analysis
- Updated Wills and Trusts
- Use of Unlimited Marital Deduction
- Estate Tax Reducer
- 11. Prevention of Misspent Life Insurance Dollars
Prevention of Misspent Life Insurance Dollars
- A Client and Policy Summary
- A review of the structure of the policy, ownership, beneficiaries, and payment methods, relative to client objectives.
- A re-evaluation of the underwriting rate class.
- An assessment of possible rate-class improvements.
- An evaluation of the effect of changes in interest rates/sub-account performance, increase in cost of insurance, or any combination of these.
- A Fair Market Value assessment of the policy, if applicable.
- An evaluation of the financial security of the insurance company.
- An objective and comprehensive evaluation of potentially more cost effective or beneficial alternatives.
Tools
- Survivorship and Income Need Analysis
- The Policy Analyst Process
- Life Settlements
- 12. Key Employee Owner's Manual
Key Employee Owner’s Manual
- A complete understanding of your Key Employee’s strengths and weaknesses.
- Strategies to meet the demands of the key employee’s environment.
- An understanding of how the Key Employee responds to problems and challenges.
- Knowing how the Key Employee influences others.
- Knowing how the Key Employee will respond to the pace of their environment.
- Knowing that the Key Employee will respond to your rules and your procedures.
- An analysis of the Key Employee’s manner of doing things.
- What will motivate and stimulate the Key Employee.
Tools
- The Key Employee Owner’s Manual
- Golden Handcuffs
- 13. Thanksgiving Dinner
Thanksgiving Dinner
- Establishing a Family Vision for the Business
- Selection and Training of Successors
- Determining Method of Transition
- Conducting Family Meetings
- Rules for Entry
- Phasing the Older Generation Out
- Phasing the New Generation In
- Who Can and Cannot be an Owner
- Catastrophic Planning: Death, Illness, Disability and Divorce
- Outside Boards
Tools
- Family Meetings
- Rules for Entry
- Contingency and Continuity Plans
- 14. Dream Maker
Dream Maker
- Making your dream come true
- Can you really see this dream come true?
- Time table for dream coming true
- Coaching for dream coming true
