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FAQ For Business Owners

“I’m pretty busy right now. Why should I start the Exit Planning process?”

We can appreciate that you’re busy. Just realize that many business owners put off the Exit Planning process because it feels so complicated – there are so many moving parts – estate planning, business continuity issues, even trying to figure out who can take over the business. That’s where we come in.

Forecast Advisors acts as the quarterback of a team of your existing advisors – your attorney, your CPA. We work with you to figure out your individual goals and objectives and then produce a set of customized recommendations for you. With the advice and counsel of your people, we devise a plan to help you make the transition out of your business as profitable as possible while legally lessening your income tax burden.

We can work with you on your schedule without diverting all your attention and resources. CONTACT US to discuss this further.

“I’m not sure I ever want to retire.”

You don’t ever have to retire. Just realize that eventually, every business owner will leave his or her business. Either they’ll die at their desk or, if they’ve planned accordingly, they’ll exit their business in style with enough of a nest egg to live comfortably doing whatever they want — writing the Great American Novel, playing with (and spoiling) the grandkids or even traveling the world.

Forecast Advisors can design a plan so that you keep a small interest in the business for as long as you like. CONTACT US to discuss this further.

“My Attorney (CPA, Insurance Provider, Financial Planner, etc.) can do all this.”

Your attorney (CPA, Insurance Provider, Financial Planner, etc.) is a very qualified person. We have found that most of these professionals are excellent when it comes to working within the scope of their profession.
But, do you think your attorney could do a future cash flow projection for the business? Could your CPA produce the legal documents needed for the sale of the business? How about your Insurance Provider? Could he or she develop a certified valuation of your business that would stand up to the scrutiny of the IRS?

Most professionals do great work in a relatively narrow field. As Exit Planning Professionals, we oversee the entire process to make sure that each professional provides the appropriate documents at the correct time. In other words, we develop your plan, coordinate everything and give you the peace of mind of knowing that everything is under control. CONTACT US to discuss this further.

“How expensive is Exit Planning?”

Creating an Exit Plan will cost you some money. But, let’s look at the alternatives. If you haven’t planned accordingly, the IRS could take a major chunk out of your sale proceeds. We know of ways that you can legally protect those funds. With these savings alone, you will probably pay for the plan several times over.

And, how about your family? If something happens to you without proper planning, your wife (husband) and children could spend years in court trying to figure out your estate. The best Exit Plan is a complete Comprehensive Plan that addresses every aspect of your exit. We do have the option of looking at the full plan in separate compartments we call Components. In the long run, this may be more expensive, but if money is a serious issue, this may be the way to go. CONTACT US to discuss this further.

“I’m still building my business. Is now the right time to plan to leave it?”

The longer you postpone getting started, the more in jeopardy you place your company and your family. With proper planning and implementation, we can grow your business, make it more efficient and profitable and give your management team the experience it will need to run the business in your absence.

Not to mention the fact that we’ll help you plan for the single, most critically important financial event of your life — the transition out of your business. Would you be comfortable leaving that to chance? CONTACT US to discuss this further.