Mann Lawyers LLP’s Post

Did you know that 50% of business owner exits are unplanned? It's concerning that half of all business owners are forced to exit their business instead of doing so on their own terms. The "5 Ds" - death, disability, divorce, distress, and disagreement - are most commonly responsible for an owner's unplanned exit. For those in a business partnership, it's crucial to consider the possibility of conflict and how to handle a productive exit. Too often, business partners do not prepare for unforeseen circumstances, leaving them vulnerable. How will your interest be valued? How will it be paid? Properly planning for these scenarios is essential. Seeking the advice of a Certified Exit Planning Advisor (CEPA®) can help you understand the answers to these questions and make sure you, your family, and your business are protected. Don't wait until it's too late to plan for the future of your business.

Catch up on "The Biggest Business Owner Estate Planning Mistakes" and arm yourself with knowledge that lasts a lifetime. Air Date: 02/22/22 As a business owner, you are working hard to build a legacy for your family. Are you really willing to leave it to chance and probate? Our guest Curtis Bailey shares some of the biggest mistakes business owners make with estate planning and how to prevent them. (Link in the comments)

Catch up on "The Biggest Business Owner Estate Planning Mistakes" and arm yourself with knowledge that lasts a lifetime. Air Date: 02/22/22 As a business owner, you are working hard to build a legacy for your family. Are you really willing to leave it to chance and probate? Our guest Curtis Bailey shares some of the biggest mistakes business owners make with estate planning and how to prevent them. (Link in the comments)

55% of business exits are unplanned—caused by death, divorce, or disability. And only 20% of planned exits result in a deal. Many business owners think of exit planning as something to deal with later. But the truth is, the best time to start exit planning was the day you started your business. And the second-best time is now. Why? Because exit readiness isn’t just about selling your business—it’s about building one that can thrive without you. A sellable business is a valuable business, whether you choose to sell or not. Imagine being approached with a dream offer tomorrow. Would your business be ready? Could it operate at peak performance without you? If the answers make you pause, it’s time to rethink. From a score of 1-10 - How confident are you that your business could run without you? Share your thoughts—or concerns—in the comments.

"Why managing heirs’ emotions is one of the biggest challenges during the estate administration of a business founder?" Business succession is rarely just about assets it's also about emotions. Recently, I was approached by a family grappling with this very issue. The founder had passed, leaving behind a successful business. While the heirs respected his legacy, emotions ran high. Some felt entitled to an equal share, others questioned fairness, and conflicts arose despite clear documentation. The emotional complexities threatened to derail what the founder worked so hard to build. Inheritance planning isn’t just about legal structures, it's about managing relationships. A good plan ensures harmony while preserving the founder's vision. What strategies do you think are most effective for managing emotions in inheritance planning?

Succession planning in planning business involves careful consideration of your assets, family dynamics, and personal wishes, often with the guidance of professional advisors to ensure all legal and financial aspects are properly addressed. Let our expert team guide you through the process with ease and confidence. Schedule your consultation today and take the first step towards securing your legacy. You can reach us at +1 264-498-3800 or send an email to admin@counsellimited.com for further details. #anguilla #counsel #counsellimited #estateplanning #legacybuilding Fiona Curtis

As a business owner, have you started the exit planning process? Are your personal, business, and financial goals aligned? Have you articulated your goals for a possible transaction? What about life after exiting your business? When was the last time you addressed tax and legal considerations of ownership? What is the value of your business? What legacy to you want to leave? In the event you experience a disability, divorce, disagreement, or even death, what is your contingency plan? And many more?????? Decisions made today could impact your ability to exit your business on your terms. Here we are with a group of businesses owners and community leaders discussing and answering some of the questions many business owners have not addressed. The conversation was eye opening and thought provoking. But best of all, after attending yesterday’s workshop, everyone will be taking action.

Small Business Owner Mistakes: Part 4 📜 Succession planning is often overlooked by small business owners. Your operating agreement should define what happens in critical life events like death or divorce. Don’t wait until it’s too late—plan ahead and ensure your business’s future is secure. #SuccessionPlanning #OperatingAgreement #SmallBusinessTips #Entrepreneurship #BusinessGrowth This post is for educational purposes only and should not be taken as financial advice.

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LPA Seminar May 2024 Enhancing our clients needs through Estate Planning LPA is one of the tools we use to enhance our client’s in their estate planning. It allows you to appoint a person of your choice in the event you lose your mental capacity. Estate Planning is a planning process to ensure your loved ones are taken care of should death occurs or if you lose your mental capacity. If you are a business owner, estate planning ensures that your business can be properly transferred to the right successors. #estateplanning #financialplanning #financegoals #planningahead #financialadviser