Your business is your livelihood – something you’ve been building for years. It’s hard to imagine the day you will hand it over to someone else, but the fact remains, that day will come. The only difference is whether or not you plan for transition of your business in an orderly manner. The success of the transition depends on you.

Why not start business transition planning, also referred to as business succession planning, while you’re still actively involved with the business? Independent Financial Advisors, LLC (IFA) can help you leverage our financial planning knowledge and experience.  This will enable you to understand the financial ramifications of your transition plan options that will favorably position you and your family, and legacy.

Using extensive data gathering and analysis methods, we’ll make recommendations on how to best meet your personal goals and business objectives.  We’ll incorporate our other financial planning services into the business transition plan. We utilize a team approach to ensure you maximize your financial security and personal comfort as you transition your business.

Specifically, our planning process covers several different components, from financial and estate planning to owner transition planning and family dynamics. Our process is designed to help you understand how the different component areas may be impacted by various options under consideration. Our business transition planning efforts involve the following:

• Probability analysis of pre-tax and after-tax implications of proposed deal options (e.g., lump sum vs. installment payments)
• Reviewing gifting and estate planning opportunities to meet your legacy objectives and to reduce tax liabilities

• Analyzing the potential impact of inflation rates, tax rates and various investment strategies on the capital needed to support your desired lifestyle after transaction

• Asset allocation and asset location optimization recommendations
• Determination of the type(s) and amount(s) of insurance needed to safeguard your plan from potentially catastrophic events. *
• Employee Stock Ownership Plan (ESOP) services

Completing business transition planning now allows you to:

• Control the future deposition and management of your business.
• Ensure the business will provide for the future financial needs of you and your family.
• Create an exit strategy to keep you comfortable during your retirement years.