Business Succession Planning

Legacy has decades of experience in designing cost and tax efficient business ownership transfer strategies.  We have worked with multi-practitioner doctor’s offices, family owned businesses and many other business types in achieving their transition goals.  Our broad financial and business consulting experience and expertise equips our professionals with the ability to provide advanced analytics on the sale of a business and how the sale ultimately effects the buyer and the seller.

The Proper Starting Place

At the forefront of our planning is the consideration of the gross cost to the buyer and the net gain to the seller.  Taxes are rarely figured into the total cost and benefit of the sale.  When they are considered, it is typically too late in the planning and negotiations to make much of a difference.  Our advisors recognize the sales price doesn’t matter.  What really matters are the dollars the seller is left with and dollars the buyer is required to earn to pay for the business. When the structure process begins by acknowledging that reality a more favorable outcome for both parties is possible.

Comprehensive Planning

For the small business owner the sale of a business should not be planned for in a vacuum.  The sale will have immense long term impacts and will tangentially effect every part of the owners finances.  For the best possible outcome comprehensive planning for the sale should begin before the sale process starts.  The best ownership transfer strategies are planned for years in advance of the sale. This time allows for the seller to define and achieve goals, set up the business more favorably to be sold, and provides opportunities for tax savings to be generated over a longer period of time.

If you are considering the sale of your business contact us for an initial consultation.