It’s not just about what you own, it’s about what you love.
Of course, all relationships naturally evolve and move forward in new directions. But probably none is more personal to entrepreneurs than their attachment to their company or business. In many ways, it’s your life and defines who you are. And that history is often a long one – you may have started small, perhaps with misgivings and few resources, and yet you risked it all to pursue your dream of being your own boss. You’ve grown an enterprise that is widely respected, has supported many over the years, and has provided you with a very good life. Your efforts have paid off and you succeeded …in spades!
The thought of re-defining or detaching from what may have been your life-long responsibility and passion can be deeply emotional. Fortunately, there are many options along the spectrum from ‘full steam ahead’ to ‘cashing out’. In evaluating how you may want to re-shape your bond with your business, many plans can provide you with greater flexibility and the freedom from responsibilities to enjoy the fruits of your efforts. It’s rare that business transfer plans are explored, or even contemplated, way ahead of time. Typically, these issues come to the table at a very late stage. Of course, the more time invested up front in developing a well-constructed strategy, the greater our capacity to personalize, adapt, and effectively manage the smooth transition of your unique business.
You may want to:
You may be thinking of:
In weighing the pros and cons of all of these alternatives, your decisions may have consequences for your investment strategy and even your current estate plans. They will certainly have tax implications.
These choices are not easy or clear cut. But, you can rely upon straightforward, expert advice from the encompassing perspective our Business Transfer specialists possess. We respect the gravitas of devising a comprehensive succession plan. It represents far more that a simple sales transaction. As well, what is customary and familiar for us on a daily basis is ‘a-once-in-a-lifetime’ life event for you.
It would be our pleasure and our privilege to assist you in carrying out a smooth and seamless transfer.
We are always at your service for any additional information you may require.