Business Continuation and Succession Planning
At The Monolith Group, we realize that running your business can be a very stressful and all–consuming endeavor--after all we are business owners, too. Additionally, we also understand that planning for what happens to your business when you choose to retire, or step away from the organization, is an essential component in securing, not only the legacy of, your business, but that of your family’s financial future. A thoroughly analyzed and strategic succession plan will allow you the peace of mind that your company could continue to thrive well into the future. Just a few of the ways that our firm can work on your behalf include:
-Sinking funds which reserve money on an annual basis allowing remaining partner(s) to buy out another’s stake;
-Utilizing life insurance products to provide the necessary funds to buy out remaining partner, and/or pay any estate taxes associated with transitioning a business to another family member;
-Stock buy-out plan where a percentage of stock is purchased by succeeding owner on an annual basis;
Please contact us today to schedule an appointment with one of our professional consultants to discuss a succession plan, or to review your current plan to ensure it meets your present and future needs.
-Sinking funds which reserve money on an annual basis allowing remaining partner(s) to buy out another’s stake;
-Utilizing life insurance products to provide the necessary funds to buy out remaining partner, and/or pay any estate taxes associated with transitioning a business to another family member;
-Stock buy-out plan where a percentage of stock is purchased by succeeding owner on an annual basis;
Please contact us today to schedule an appointment with one of our professional consultants to discuss a succession plan, or to review your current plan to ensure it meets your present and future needs.
