Transferring Your Business

It's never too early to start planning for business succession. Even if retirement is a long way off, you can save yourself and your business tremendous resources with strategic planning.

Business Succession Planning

Passing down a business means passing on a legacy. Plenty of financial instruments are available to maintain your control and a steady income stream until you retire. Consider how to streamline a smooth transition to a buyer or a family member.

Plan a Lengthy Transfer Period

Some transference tools, such as systematic gifts or family limited partnerships, require many years of transference to reap the full benefit. It's best to consider how and to whom you'd like to pass along your operations, and to start planning early.

Tax-Friendly Solutions

Gift taxes and estate taxes can deplete the value of what you've worked so hard to build. Talk with a wealth consultant to find the right transference vehicles that suit you and your business — with minimal tax penalties.

Retain a Steady Income

Several financial products exist that can help you transfer your business without a loss of regular income. Explore annuities and other financial instruments that can help you maximize your wealth. Grantor retained annuity trusts (GRATs) or Self-Canceling Installment Notes (SCINs) will both provide you with regular cash flow for a preset time period — often until you retire or until your death.

Provide for Your Family

Your business can provide for your family even after you're deceased and your business has been passed on. Grantor retained unitrusts (GRUTs) and annuities can be scheduled to provide for the loved ones you name until their death.

Top 5 Things You Should Know: Transferring Your Business


Transfer of funds from one retirement savings plan to another while avoiding taxes or penalties.

Equity securities

Securities such as common stock and preferred stock that represent ownership in a business.

When should you begin business succession planning?

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