Heck no. You don’t have to retire. Strom Thurmond remained a U.S. Senator through the age of 100. Dwight Hauff is 101 and owns Hauff Sporting Goods in Sioux City, Iowa. Jack Weil is 104 and still owns Rockmount, a Denver-based manufacturer of Western shirts. Carl Stevens is 86 and owns Total Plumbing.
Estate & Transition Planning
Sell It, Make a Bundle and Get to the Good Life!
Who wouldn’t want to retire? Sell the company and put money in the bank? Have the time and freedom to travel, play tennis, exercise and volunteer? Spend more time with the grandkids?
Never Let the Buyer Work in the Business!
“After the troops have crossed the bridge, burn it,” ordered the battalion commander. “But that’s our only way out!” shouted a shocked lieutenant. “Yes, burn the bridge,” insisted the commander. “Our only option will be to defeat the enemy.” Sometimes, if the job is really tough, the only way to ensure success is by making [...]
Going Public: Dream or Reality?
Many private business owners dream of “going public.” It’s the ultimate entrepreneurial status symbol. Build a company and take it public? Well, you’ve really done something.
For Sale by Owner?
Remember the old saying: “The person who represents himself has a fool for a client”? Athletes, highly paid executives and persons involved in legal disputes adhere to it. Unfortunately, some business owners do not.
Exit Planning
You fought and clawed your way into business ownership. Then, several times, you did it again just to survive. The years rushed by. The kids are grown. A few of your retired friends have asked, quite crudely, “You gonna die in the saddle?”
ESOP: Your Dream Exit
The Employee Stock Ownership Plan (ESOP) is a one-of-a-kind method for selling ownership in a private business. Congress created the ESOP tax incentives in an effort to foster broader employee ownership of companies and nudge business owners to provide retirement plans for their employees.
Does Your Will Need To Be Updated?
Too many wills are so old they’re no longer relevant to the writer’s current circumstances – his family responsibilities, assets and liabilities.
Planning Your Exit Strategy
Many clients own profitable and growing businesses that provide them with income, wealth, challenge, satisfaction and pride. However, at some point the business owner will want to leave his or her business. The key to successful exit planning is in addressing, realistically and directly, some rather basic questions.
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