Buisness Planning

Planning with small business owners entails understanding the numerous needs they may face.

From protecting the business from the risk of prematurely losing a key employee, to providing selective benefits to those employees who are key to the business’ success, to business succession planning, you can provide small business owners with strategies and solutions that seek to best meet their overall needs and objectives.

Buy Sell Planning

A buy sell agreement protects a business if the owner were to die, become sick or disabled, or if they elected to terminate their employment early or retire. Without a plan in place, a business and its owners could experience:

Cash flow shortage
Inability to pay debts
Lack of income for the business owner, their family & their employees
Insufficient resources to pay required taxes – federal & state
Lack of business continuity, which may impact employee morale and customer loyalty

The benefit of a buy sell agreement cannot be overstated. A properly structured buy sell can address and help eliminate potential problems or issues before they arise. For almost all business owners, a well-designed and funded business succession plan may help bring security and peace of mind for the business owner's personal and business family.

Key Person Life Insurance

Key person coverage is life insurance purchased by a business on an owner or an employee whose services contribute substantially to the success and continuity of the business.

The insurance policy is owned by and payable to the business. The insurance is in place to protect the business from the loss of a key person.

Nonqualified Employee Benefits

In addition to sponsoring a qualified retirement plan for all employees, small business owners may wish to offer nonqualified employee benefits to their key employees.

These benefits are very valuable to key employees, and provide a way for employers to attract, motivate, reward, and retain their top talent.