Transition Planning and Business Succession

Oftentimes, the largest asset accumulation for a family may be ownership in a successful business. Once an owner has decided to sell or what we call “monetize” an ownership position, HHM Wealth Advisors will provide an analysis to the owner regarding the specifics of execution.

Through our affiliation with Henderson, Hutcherson & McCullough PLLC, one of the largest CPA firms in Chattanooga, we can perform business valuations that will give the owner a sense of fair value. We can then suggest tax minimization strategies in an attempt to retain as much of the sales price as possible.

We also understand that it may be the wishes of the family, that certain family members continue to participate in the business after others sell their shares. If this is the case, we can assist in creating a transition plan to shift ownership and create a funding plan that will allow the exiting owners to achieve their income needs during such a transition.

If a sale to an independent third party is the best form of divestiture, we can assist the owner in identification of the tax consequences and investment of the funds as they are realized. For those owners that are entering their retirement years we will structure a path similar to that outlined in “Retirement and Life Planning: It’s Not Just Money” section of this website.

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