Ownership Transition Planning – how does it work with Aspen Grove Investments? When we work with business owners to help you successfully transition ownership of your businesses, we follow a systematic approach to ensure that we are able to maximize what you take from your businesses while minimizing the tax consequences.
We begin by helping you identify their goals and objectives. Our next step is to understand the value of the business within the context of your Ownership Transition Plan. It is important for the Business Owner to understand that the value of your business and the amount of cash you take from it may not necessarily be the same thing. We must understand when you would like to begin transitioning from your business. We have to identify your personal financial goals. We need to clarify whether you would like to transfer your business to a third party or to an insider such as a family member or key employee. Additionally, there may be other objectives that you wish to achieve such as taking care of employees.
We then work to ensure that we preserve as much business value as possible from the grasp of the IRS. We additionally work to promote the value of the business through value drivers.
The direction of our fourth and fifth steps depends on our choice of Ownership Transition Plans. If we are selling to a third party we will follow a very specific systematic process. If we are transferring the business to an insider we must minimize your risk by reducing the time that you have to carry a note or sell stock.
Up to this point, our Ownership Transition Planning has focused on moving on past your business. We must spend some time planning for contingencies. We work to be certain that your family will benefit from your life’s work should you be unable to continue working in your business and work to protect the business value from the grasp of creditors.
Finally, when you have successfully transitioned from your business we want to make sure that you accomplish your short and long term personal and financial goals.
Ownership Transition Planning is a systematic process that requires a collaborative team of Ownership Transition Planning Experts. We will work with your advisors or will recommend advisors to you if your advisors lack experience in this type of planning.
Transferring ownership of your business is inevitable. Will you be among the thousands who have not prepared for this massive transition over the next few years or will you stand out above the crowd by intentionally planning for this transition and reap the huge rewards that can be achieved by preparing your business to stand out from the rest and receive maximum value?