Professional Business Solutions

succession planning, estate freeze, stock freeze, transfer of ownership, professional business solutions, small businesses, managementSuccession and continuation planning

Succession Planning is an appealing concept. You take your money out of the business, someone else puts theirs in, and you go on your way to enjoy retirement with no worries about the business. But, realistically, it’s not always that simple.

Where will you find a buyer for the business? Will a family member step up and take over? Will the person taking over have all the required funds to purchase or will you be left having a vendor take back loan?

How about the training for the new owners…will you have to stay on, and what will the transfer of management look like? One month, six months, a year or five years…what will work for all parties?

Now there are questions about the actual transfer of ownership. Do you need to do a stock freeze or estate freeze? If so, is it a section 85 or section 86 freeze?


The role of the financial security advisorsuccession planning, estate freeze, stock freeze, transfer of ownership, professional business solutions, small businesses, management

Now the funds come in. You have spent much of your working life living off the proceeds of your business. Now you need to learn how to live off a fixed sum of money. Do you have a financial security advisor to help with the transition? It sounds simple but do you need to worry about the continuation of the business? Your advisor should be qualified to help you with some of the unique concerns with a vendor take back loan, if needed.

Perhaps you are out of the business, but had to leave some money in. What if something happens to the business, what can you do to protect your investment?

What happens if the new management suffers a death, disability or critical illness? Are you protected to get your money? Should you have insisted on a properly funded continuation plan for the new management?

These are only some of the highlights in development of an exit strategy. The advisors at Specialty Wealth & Financial will meet with you to help develop your plan, and then work with your legal and accounting team to make sure your interests are fully and properly protected.

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