When the time comes that you want to enjoy what you have built, will your business provide what you hoped? Yesterday's worth may not hold the same value tomorrow. If we are to enjoy tomorrow's retirement we need to establish vehicles that hold and build a more secure future with pennies on the dollar.
A buy-sell agreement is the first step towards protecting your business investment. How you fund this agreement is more important than the agreement itself for without proper funding your agreement is only words on a paper. A buy-sell Insurance contract properly drafted will fund your agreement pennies on the dollar your assets; creating a seamless transition of ownership when the time comes.
Great employees are hard to find; so, when you are fortunate enough to come across one, you want to do everything within your abilities and budget to ensure their services stay in your court. Golden Handcuffs are a great incentive tool that shows them your appreciation. Give your key employees a vested interest in your financial risk.
The death of a crucial employee in a key position, can lead to profit or revenue loss or both and in severe cases even the end of the firm. Protecting your company from such an event is key; long term. Key Man protection offers cash flow, without qualifying for a bank loan. Use the cash received to cover the plus operational expenses of the transition and the recovery of profits.