BUSINESS SUCCESSION PLANNING

BUSINESS SUCCESSION PLANNING

Forethought can make all the difference.....

It is a shocking statistic: fewer than one in three privately-owned companies outlive their founder. Yet the real tragedy is that many of the failures could easily have been avoided by implementing a solid succession plan. What is more, survivors are often needlessly burdened with tax and other financial drags that also could easily have been side-stepped with some foresight. In business there are many chances to adjust to changing markets and seize new opportunities, but when it comes to business succession, you get just one chance - and it needs to be right.

Building a business has been great.....but what about protecting it?

Nothing is more rewarding than building a business, watching it grow, and sharing the rewards with the people who helped make it happen.

Family and privately-owned businesses possess a special loyalty and dedication that other businesses donít seem to foster. Sometimes an entire lifeís work is spent nurturing a business so that it will stand the test of time.

At Kistler-Tiffany Advisors, we appreciate all of the important ingredients that go into maintaining and growing a privately-owned business. We take the time to thoroughly understand your goals - business and personal - and your unique concerns. Our professionals are skilled at providing leadership; building strong relationships; and creatively applying resources to develop solutions. We can help you accumulate, protect and distribute personal and business assets through comprehensive, custom-tailored advanced planning for yourself and for those closest to you.

Itís just not enough to simply transfer ownership of your assets at retirement or through your will and hope everything will work out. With laws and regulations continually changing, it takes dedicated specialists to help map out the most effective after-tax strategy to increase the odds that your company survives. Kistler-Tiffany Advisors can help. We have more than four decades of experience helping private business owners and other affluent individuals successfully plan for their financial future.

KEY ISSUES

  • Who will be the next owner of my business?
  • Who will be the next leader?
  • How will I meet my income needs as I decrease my involvement in my business?
  • How can I create financial independence outside of my business?
  • How should I plan for my spouseís security?
  • What are the tax ramifications of my business succession plan?
  • What estate planning techniques can I use to reduce estate taxes that are consistent with my objectives?
  • Where will my family get the cash needed to pay the unavoidable estate taxes?
  • How should I treat the children who are active in the business and those who are not?
  • What makes sense for my childrenís spouses?

Often these difficult issues are too emotional and uncomfortable for parties directly involved to discuss openly, so the business owner often becomes isolated in the decision-making process.

Kistler-Tiffany Advisors can help guide you through a process that emphasizes the integration of personal and business objectives. We will meet with the key people involved and discuss personal and company goals, and then help the group reach a well-considered resolution to every issue.

Our role at Kistler-Tiffany Advisors is to help you manage these issues effectively by adding experience and professional objectivity to the process. We have been helping families design comprehensive business succession plans for over 40 years and we are well versed in all the issues that critically affect family businesses. As an objective third-party, we can serve as a buffer, which is especially useful in cases where there is confusion; or the potential for conflict among family members; or between a family member and a loyal employee; to make recommendations that you may feel uncomfortable articulating or making yourself.

We believe every successful business owner has three plans. The plan you think you have, the plan you actually have, and the plan you would like to have. Our job is to help you make the plan you would like to have a reality - and keep it that way. Our breath of knowledge and experience in what makes family businesses unique helps us guide you - in concert with your professional advisors - to a sound plan for a smooth succession.

Please also see Touch Questions & Opportunities for additional information on business planning succession.

Please Note: Financial planning and/or consulting services are available for a separate fee and per the term of a separate written engagement. The scope of any financial planning and/or consulting services to be provided depends upon the needs of the client and the terms of the engagement.

OUR MISSION: Kistler-Tiffany Advisors strives to provide personalized asset management and estate planning services to individual clients and their families with complex financial needs

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