Exit Planning

There are a lot of reasons to go into business: independence, financial security, the pursuit of a dream. But have you thought about how you are going to get out? Exit Planning is a customized process of setting goals and deciding how best to achieve them. Whether your successor will be your children, a key employee or an outside buyer, Exit Planning helps you maximize your financial return and minimize your tax liability when you transfer your business. If you die or become disabled before you retire, Exit Planning will help the business survive your departure enabling you and your family to receive its full value.

It is the deliberate, adaptable way that a business owner can leave their business on their terms and on their schedule. The process will yield a highly-tailored result for each business owner and ensure that all issues are covered.

Burley & Associates is a part of the Exit Planning Group Team, which takes the following approach:

A complete Exit Plan rests on a 7 step design process. These steps are illustrated in seven simple questions.

Do you know your exact retirement goals and what it will take -- in cash -- to reach them?
Do you know how much your business is worth today, in cash?
Do you know the best way to maximize the income stream generated by your ownership interest?
Do you know how to sell your business to a third party and pay the least possible taxes?
Do you know how to transfer your business to family members, co-owners, or employees while paying the least possible taxes and enjoying maximum financial security?
Do you have a continuity plan for your business if the unexpected happens to you?
Does your family have financial security if the unexpected happens to you?

The corresponding Exit Planning Steps are:

Establishing Owner Objectives
Establishing Business Value
Building Value and Cash Flow
Selling to a Third Party for Top Dollar
Transferring to Management or Family Members
Developing a Contingency Plan for the Business
Family Wealth Preservation Planning

Bottom Line

Owners face a number of barriers to a successful exit from their businesses:

	Most owners don't know that there is a proven Exit Planning Process.
	Most business advisors are unaware of all that can be done to assist owners as they begin to plan for their business exits.
	Without a plan, exiting your business can appear daunting and, as a result, owners wait until it is too late to undertake it.

For More Information

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