As a business owner, the business you have built may represent a significant portion of your net worth. Let us work together to help you grow and protect what you have worked so hard to build.
This is part of a series of posts to help business owners maximize the potential for their business.
Wealth Transfer
Estate Liquidity
- Will your loved ones and heirs be able to receive a fair value for your business after your death?
- Is most of your net worth tied up in the value of your business, creating a liquidity crunch for your estate?
Your business may be running smoothly while you are healthy, but in the event of your incapacity or death, your loved ones may be left with an asset that represents a significant portion of your net worth. Without proper planning, your loved ones may have difficulty valuing and/or selling the business. This results in your estate being very illiquid which means it may not be able to provide for your loved ones like you expected. Furthermore, illiquid estates can create a crunch in the event your loved ones are required to pay estate taxes on the total value of your estate.
Succession Planning
- Is your business structured to ensure a smooth transition in the event of an untimely death?
It is very common for a lot of the intellectual capital of a business to be tied up in the owner(s). In the event of an untimely death and without proper planning, others may not know how to efficiently operate your business (or they may not want to). This can permanently reduce the value of the business asset that you thought would provide for your loved ones.
Let Parable Wealth Advisors evaluate the succession plans for your business to help optimize the wealth transfer for your family. Contact us to learn more information.
Note: This post is for educational purposes only and does not seek to provide legal advice. At Parable Wealth Advisors, we use our expertise to help business owners and will refer you to a qualified outside professional as needed.
