Executive Benefits and Succession Plan

Frequently, a business owner spends most of his time running his business and managing the bottom line, and very little time working ON his business.

The business also can represent the owners only retirement plan, and planning for its disposition can never be addressed too early.

Attracting, retaining, and rewarding employees is an on-going challenge. Using outside brokers and vendors, we help create a competitive benefit package that includes health insurance, short and long-term disability insurance, long-term care insurance, life insurance and retirement plans for all of the employees. Then we introduce benefits that are offered only to the key employees, such as executive bonus plans, nonqualified deferred compensation plans or phantom stock plans, to name a few. Here we customize the benefits so that you keep your talented executives on your team.

Usually the business represents the owner’s largest investment, and he expects to receive the maximum value from the business when he retires. Business disposition can take one of many forms: 1) the business is sold to a co-owner, competitor, or key employee, 2) the business is sold or gifted to a family member, or 3) the business is liquidated or split into smaller businesses. Our team of financial representatives will explain the transitioning options that are available, how to value the business, and how to structure the buy-out. The objective is that the maximum value is received, tax implications are considered, and the business is sold according to the business owner’s timeframe.

Retirement Plans

Why do you want a plan? To provide a way for your employees to save for retirement, or to get the biggest tax benefit and maximum funding for the employer(s)? Qualified retirement plans can be complicated and expensive, and not appropriate for a young company with high turnover and young employees who have no excess cash to invest. Let us help you determine the best type of plan,  show you funding alternatives, and help educate your employees.

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