Business Owner Risk & Succession
The business you built deserves a plan that keeps it going, whatever happens.
Your business is your largest asset — and your largest risk
Many business owners keep most of their net worth inside their company, yet few have planned for the question: “What happens to the business if I am gone or unable to work?”
If a partner dies suddenly, shares may pass to family members who do not run the business. If a key employee is lost, clients and cash flow can suffer at once. Without a transition plan, the next generation may have to take over at the hardest possible moment. Business Owner Risk Planning answers these “what ifs” in advance.
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The pillars of business owner planning
Key Person Insurance
Provides the business with capital if a key person is lost — to recruit a successor and reassure clients and lenders.
Buy-Sell Agreement Funding
Funds a buy-sell agreement so surviving owners can buy shares at an agreed price and the family receives fair value.
Business Succession
Whether passing to children, partners or management — plan the timeline, valuation and funding in advance.
Executive Benefits
Arrangements such as non-qualified deferred compensation to retain and reward key talent.
Business & Family Risk Isolation
Coordinate business structure and family asset ownership so business risks do not spill over into family wealth.
Owner Retirement
Turn the value of your business into sustainable retirement income when you step away.
Physician owners need succession plans too
Ensure your practice continues to thrive, even without you. For physicians and dentists who own their practice, it is both their income and one of the family's most important assets. We help plan partner buyouts, practice sales and transition funding to protect patients, staff and family.
Physician Family Solutions“Ensure your practice continues to thrive, even without you.”— Business Succession for Physicians
What business owners ask most
My company is small. Do I need succession planning?
The more a business depends on its founder, the more it needs planning. Small businesses without a plan are often the first to suffer when something happens to the owner.
Does a buy-sell agreement have to be funded with life insurance?
Not necessarily, but life insurance is a common way to provide immediate, certain funds when an owner dies. The agreement itself must be drafted by an attorney; we plan the funding and coordinate with your counsel.
Should business planning and family planning be done separately?
They work best together. Ownership, succession arrangements, family trusts and wills must be consistent, or conflicting provisions can easily arise.
