Legacy led exit/succession planning is one of the most
critical endeavors a business owner undertakes.

At some point  in your life, you will entertain thoughts of retirement. Knowing how and when to begin the exit-planning strategy is key to a smooth retirement transition. The Legacy Exit Strategy Planning is a structured process of careful planning that enables you, the business owner, to maximize the value of your business at the time of your exit.  The planning process encompasses a wide range of activities that include:

• Deciding how, when, and to whom you will  sell your business.

• Identifying a successor, if you intend to transfer rather than sell your business.

• Determining what you will do with your life when you no longer own/run the company.

• Taking steps to maximize and to protect your assets (estate planning).

Your succession plan is an outline of the direction that you intend your business to continue when you are no longer at the controls of the business.  If you have found yourself asking the question, "If I die, become, or otherwise leave the business, who will run the company and what will happen to it?" then you are ready to consider an Exit/Succession Plan.  Legacy Associates can assist you  with your succession plan by:

• Identifying the successors.  You need to decide whether or not family member(s), partners and/or shareholders, key employees, or professional managers should run the business after you leave the business.

• Planning for possible contingencies.  The next step involves planning, to the best of your ability, for life's events, such as, retirement, disability, or death-- -events that may trigger your succession plan.

• Finalizing the plan.  Legacy Associates work in conjunction with your financial planner and attorney to formalize your succession plan by recording everything in writing and creating the important  legal documents, namely, buy-sell agreements, partner agreements, and living wills. These documents also specify  the financial source that will facilitate the transition of the business.