You've worked hard to build your business. Our team will work just as hard to help you protect its longevity for generations to come. Whether you run a family business or have partnered with colleagues for your business venture, we help you safeguard your interests and that of your heirs, in the event of retirement or death.
Every business is different and the details surrounding each workforce planning situation are unique. Our financial professionals take the time to collect all the information, discuss your plans for the future and review the information to make recommendations that are most suitable to your needs.
Our clients are usually concerned about how to transition family businesses onto their heirs. If this is the case for you, we help you create a formal management strategy. This takes into consideration the current level of involvement of family members and the level of involvement they plan to engage in, in the future.
We can also help you turn ownership into equity. This can then fund retirement, while you take a hands-off approach to business management. Salary payments, tax planning and life insurance policies are just some of the strategies our team may consider.
Let our team at Prescott Private Wealth help you create an effective plan to transition your business to the future business successors you have in mind. Contact us for more information on our replacement planning strategies.