Articles Tagged ‘Business value’

Estate Planning or Exit Planning?

Tuesday, November 30th, 2010

Presented by T. Ray Phillips

The Exit Planning process should begin by determining your goals and objectives such as:
• The income you and your family will need after you leave the business; and
• Who you wish to transfer the business to — whether it is children, key employees or others.

And, Exit Planning involves the determination of business value and the capability of the business to provide you and your family future cash flow. So, too, does estate planning.

Following the determination of these objectives and valuation, the process usually turns to creating more value within and for your business while implementing your lifetime exit strategy. The second stage, lifetime exiting, often takes many years to fully implement. For that reason, as you begin lifetime exit planning, it is also the perfect time to reassess your business continuity and estate plans.

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