Strategic Business Planning


Succession Planning

Properly utilized, succession planning ensures that you, as owner, are able to obtain maximum value for your company, no matter the economic or market environment. This will enable you to transition your company on your own timetable with assurance to whomever you desire, whether a family member, successor employee, or outside third party. Not only does this enhance your financial security and ability to plan ahead, but it also provides continuity of business operation to the company during a transition, which further enhances your company's value to potential successors.

Buy-Sell Arrangements

A buy-sell arrangement is a legally binding agreement between a business' owners to protect ownership interests. Made in advance, Buy-Sell agreements protect against events that will adversely impact the business' ownership structure and dictate how ownership interests will transition if necessary. A few instances when a Buy-Sell Arrangement would be necessary to have in place include: the unexpected death of one of the shareholders or partners, a business owner's voluntarily decision to sell his or her stake, or the forced divestiture of an ownership interest due to divorce or legal action against one of the owners. When funded, a buy-sell arrangement utilizes life insurance to provide cash at the time of a triggering event so that other business assets may be deployed and used to increase revenue and productivity.

Key Person

The most valuable and precious asset of any business is its people. At the loss of a vital individual, business functions and revenue streams are often dramatically impacted. If not properly prepared for in advance, there exists an increased likelihood of substantial losses in sales, earnings, and disruption to the business development progress.

Key person coverage can help indemnify a business against the unexpected loss of a key employee through a properly structured death benefit. Because funds are provided when needed to help a business cope with the loss of a vital employee, Key Person coverage provides an employer resources necessary to ensure continuity of business functions. Moreover, it also provides a buffer to help the business adjust to any impact on sales, earnings and business development and can also be utilized to attract replacement personnel with the skills and qualifications necessary to step in to the void created.