Some Day This Business Will Be Yours

Nov 03, 2014

That's a loaded statement. Give serious thought to what it means to your son, daughter, employee(s), or whoever you are talking to. To them, it could mean something entirely different than what you intend. Or maybe over the years, exactly what you have intended has changed.

Such a statement to family or key employees could mean that you intend to gift your business interest to them. Or, that maybe you will sell it to them for less than its true value. It could also mean that you will finance a sale for below market price and terms, or with no expectation of a down payment. Either way, be clear about your intent and your capability to follow through.  Read more ...


Joan M. Ridley, CBA, CEPA, CFP™

Joan RidleyPresident of Business Wealth Solutions, a business consulting firm.

"We have identified numerous opportunities to protect and maximize corporate wealth both now and in preparation for ownership transition. In this economy, human and intangible capital are major corporate assets. Absent proper planning, business owners could leave dollars on the table, and face the risk of actually losing their unprotected assets and hard-earned wealth."

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