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A thorough succession plan considers not only your exit from the business but also your retirement needs and personal estate

Why Communities Want Small Businesses to Have a Succession Plan in 2024 Succession planning is elemental for small business owners, much like estate planning is for anyone with assets. Owners should have a plan ahead of retirement if they become incapacitated or pass away unexpectedly. [Blog Post] https://lnkd.in/gn5A6Cmk #lifeplanlegalaz #estateplanning #estateplanningattorney #queencreekaz #gilbertaz

“Most business owners think their business is worth more than it is to an objective, third-party observer. Not having a clear picture of what the business is worth makes planning for a secure retirement almost impossible.” https://buff.ly/3WqtV5W #Valuation #Businesstips #SuccessionPlanning #ExitPlanning

When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession planning ensures a seamless transition of ownership upon the potential occurrence of many different events, such as the business’s owner’s retirement, disability, or death. Whether you are a sole proprietor or a business with multiple employees, understanding your options is crucial for making informed decisions that align with your business goals and desired family legacy.

🚨 Important Update for Small to Medium-Sized Businesses 🚨 The recent Supreme Court ruling highlights the critical need for robust succession planning. Ensuring continuity and stability is essential, especially for small to medium-sized businesses. OneDigital Retirement + Wealth SVP Michael J. Minton breaks down some of the potential implications of this ruling on your succession planning. Read here: https://hubs.ly/Q02JTk7B0 OneDigital is ready to provide comprehensive answers and expert guidance. #SuccessionPlanning #SmallBusiness #SmallBusinessSuccess #BusinessContinuity

“Most business owners think their business is worth more than it is to an objective, third-party observer. Not having a clear picture of what the business is worth makes planning for a secure retirement almost impossible.” https://buff.ly/3WqtV5W #Valuation #Businesstips #SuccessionPlanning #ExitPlanning

Are you ready to pass the torch? Our latest blog dives into how you can plan for business succession and help ensure your legacy thrives. Whether you’re just starting to think about retirement or already setting plans in motion, we have insights that can help. 🏢🔑 https://lnkd.in/gUkW_bui #BusinessSuccession #LegacyPlanning #EntrepreneurLife #WealthManagement #BusinessOwner #FinancialPlanning #RetirementReady

Are you ready to pass the torch? Our latest blog dives into how you can plan for business succession and help ensure your legacy thrives. Whether you’re just starting to think about retirement or already setting plans in motion, we have insights that can help. 🏢🔑 https://lnkd.in/dcWsGVN7 #BusinessSuccession #LegacyPlanning #EntrepreneurLife #WealthManagement #BusinessOwner #FinancialPlanning #RetirementReady

Business owners are urged to develop succession plans so their companies will pass on to the next generation, or another iteration of ownership, in an optimal manner. But, as many learned during the pandemic, life comes at you fast. That’s why succession planning should best be viewed from three parallel timelines: 1) Long term; focus on identifying and mentoring a successor, as well as strategizing how to fund your retirement and structure your estate plan. 2) Short term; if retirement or another opportunity becomes imminent, look more at selling the company or even liquidating. 3) In case of emergency; be prepared for a crisis that may incapacitate you. Contact us for assistance with your business succession planning today: https://bit.ly/3OlqQih #successionplanning #trustedadvisor #businessconsulting #businessowners

What's your exit strategy? Planning for retirement and passing on your business can be a complex process, but it’s crucial for ensuring your legacy and the continuity of your enterprise. At Haines Watts, we understand the intricacies involved and offer comprehensive guidance to help you make informed decisions. Check out our latest blog, “Ways to Pass On Your Business When You Retire,” delves into essential strategies for business succession, covering aspects like succession planning, family transitions, and maximizing value. Whether you're considering selling your business, transferring it to a family member, or exploring other options, our experienced team is here to support you every step of the way. Read our blog here: https://lnkd.in/eUSrSCGQ #businessplanning #exitstrategy #retirementplanning