Monday, September 28, 2020
Helping Family Businesses succeed.
Exit Planning  >  Assembling a Team

Assembling a Team

Are your advisors asking about your plans for a successful exit? Most advisors don't because they simply don't know that there is a proven Exit Planning process.

Good exit planning requires the coordinated efforts of a number of advisors - minimally, a CPA, attorney, and financial professional.

Your team of advisors skilled in exit planning and led by an exit planner can help you to achieve your exit goals.

Using Exit Planning Advisors

It is the job of the experienced Exit Planning advisor to ask you the right questions so that you decide where you are going, who is going to help you get there and the route you are going to take. Your answers help your advisors plan and implement the exit strategy that will best meet your goals.

How Much Is All This Exit Planning Going To Cost?

A well-trained Advisor Team should make you money, not cost you money. This is not to suggest that your attorney or accountant, for example, is going to pay you money or that you aren’t going to end up paying for their services. But, compared to little or no planning, a carefully planned and implemented Exit Plan will usually result in substantial income, gift and estate tax savings as well as a significant reduction in the risk of non-payment from the buyer.

The Annual Planning Meeting

Readers of this newsletter understand that Exit Planning is an on-going process. It begins with establishing your objectives and a valuation of your company and ends with your successful exit. Along the way, you and your Team of Advisors look at preserving the value of your company, protecting that value from creditors and increasing overall value.

Is the Bank With You or Against You?

While bankers may be cautious by nature, they do need to make money. In fact, like all other business people, bankers are eager to continue profitable relationships. If the sale or transfer of your business is unlikely to disturb that profitable relationship, your banker is vested in helping your execute that transfer. It should come as no surprise that banks value the profitable relationship even if you are not part of it.

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