Business Planning
If you’re a business owner and shareholder, your business is likely your most significant asset. With proper business planning and risk management, you should be able to tap the value of your business to support your retirement or transfer your business’s value to your family in the event of your death:
Executive Compensation: As an executive, you may be entitled to both cash and noncash compensation, depending on the size and structure of your company. Common examples of executive compensation include:
- Health insurance benefits
- Stock options
- Nonqualified deferred compensation
- Personal performance incentives
- Qualified retirement plans
- Cafeteria plan compensation
Operations Planning: Of the many variables that affect the performance of a business over its life cycle, only some are in your control. Two factors that can be controlled through careful wealth management are:
- Asset management
- Tax issues
Risk Management: Running a business carries identifiable risks to the safety of your personal and business assets. We’ll consider business-specific options for handling these risks through:
- Liability insurance
- Property and casualty insurance
- Business interruption insurance
Succession Planning: Do you have a detailed plan in place for the future transition of your business to a new owner? When life changes suddenly, you’ll be better positioned to adapt if you understand:
- Buy-sell agreements
- ESOPs
- Positioning your business for sale
- The valuation of your business