Broker Check
Family Business Succession Planning

Family Business Succession Planning

We started working with this wonderful husband and wife in the early 2000s, when their engineering business was just getting started. Over 25 years, they grew the business significantly and brought their children into the business to be actively engaged as potential successors.

As the clients got older, their primary concerns were on how to strategically transfer their business and wealth to their next generation. With potential changes to the estate tax exemption, the family opted to transfer their wealth through a combination of gifting and selling the business to ensure a smoother transition and secure their retirement.

We worked closely with the clients’ CPA and estate planning attorney to establish and fund trusts and determine optimal gifting and selling strategies

The clients wanted to understand how they would live off the proceeds of the sale and their existing assets. We created a detailed retirement income model, considering existing assets, expected business income, and their living expenses. They were relieved to know that despite making significant gifts to their family, they had sufficient assets to support their retirement.

Nowadays, we continue to monitor and execute their wealth planning by

  • Managing their liquid investments to provide steady retirement income
  • Coordinating with their CPAs to mitigate the taxes and identify savings opportunities when drawing income from their assets
  • Maximizing the impact of their charitable gifts to help the causes they care about while saving on taxes

This approach ensures their legacy is preserved while securing their financial future.

*This is a hypothetical situation based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your financial advisor prior to investing.

Contact Us
Ready to Take Control of Your Financial Future?

Whether you’re planning for retirement or just starting your financial journey, our experienced team is here to help you every step of the way.

Thank you!
Oops!