Retirement & Succession Planning
Are you considering retiring and need to explore the options to transfer your farm or business to the next in line?
Have you identified a successor and interested in mapping out a plan that works for both of you?
Retirement and succession planning involves a range of services:
- Financial review and assessment of the personal and business financials – balance sheet and cash flow
- Personal and financial planning for savings and/or retirement; and other quality of life goals on a fixed income
- Tax implications for the transfer
- Valuations and appraisals
- Setting a timeline for the transfer of assets
- Structuring the sale/transfer to suit the owner and successor’s interests
- Forming partnerships
- Creating LLC’s, Estates, Trusts, or corporate entities
- Forming operating agreements and lease agreements
- Loan applications
- Regulatory compliance
- Strategic investments in the operation to make it more marketable
- Marketing the sale of the business and/or real property
All of these potential steps require careful thought and consideration for any parties involved. So the process takes time and it is good to get started early so that the operation and future investment can steer toward desirable outcomes.
You are ready for retirement and succession planning services.
We can help you. Contact us today to discuss your next steps.