In our opinion, one of the most difficult aspects of a business succession plan is making the choice of who will lead the next generation of the business. Despite the […]
9.15.23
Succession Coaches Corner – Choosing Your Go-Forward Team
9.15.23
Succession Coaches Corner – Is Your Perception of Business Value A Reality?
Do you know what your business is worth through the lens of a knowledgeable buyer? Would it have a materially higher value if you are willing to continue applying considerable […]
11.11.22
Succession Coaches Corner – Transitioning A Closely Held Business
Like the door 1, 2 and 3 choices of the popular 1960-70’s era game show Let’s Make a Deal, there are three generic doors to choose from in the business […]
9.2.22
Succession Coaches Corner – Clearing the Hurdles to Succession
In our last blog, we identified hurdles that often lead to procrastination on business succession. We will revisit those hurdles and offer strategies to overcome them. In doing so, the […]
6.27.22
Succession Coaches Corner – An Introduction
In his book Flash Foresight, Daniel Burrus points out that supply has never caught up with the generational demands of the baby boomer generation. Despite obvious signs that the U.S. […]
1.5.22
Alternatives to Probate – Benefits and Pitfalls
Generally, a deceased person’s assets are distributed at death in accordance with the terms of a Will or, if a Will was not prepared, in accordance with the statutes of […]
7.14.21
Is A Backdoor or Mega Backdoor Roth Right For You?
The topic of backdoor and mega backdoor Roths have received recent attention. The attraction to Roth retirement accounts is understandable as contributions grow tax free and future withdrawals are taken […]
4.1.21
Business Succession To Heirs
Developing a plan for business succession is one of the most important, and often procrastinated, decisions a business owner will face. Unfortunately, a sudden event may become the catalyst upon which succession decisions must be hastily made for those owners who procrastinate. When a business succession plan is developed with a runway for implementation, the owner may avail him/herself with a number of options that may not be available if succession decisions must be made in haste.
2.1.21
How the SECURE Act May Impact You
On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted bringing about the most sweeping set of changes to retirement legislation in more than a decade. The most notable changes impact investors who have significant assets in retirement plans and traditional IRAs. A summary of the changes is below.