"It's not unusual for business owners to find that the majority of their wealth is mostly tied up in their businesses, which can be a major provider for them and their families. But when the time comes for them to sell their businesses because of a life-changing event such as retirement, many business owners often have not quantified how they would replace that important chunk of income.
Business succession can be an emotional, financial, and timing issue for business owners. If you own your own business and are considering a business succession plan, there are five questions you should address with your financial adviser. Together you will want to ensure you have a plan in place to mitigate the risks associated with one of your most important assets.
What other assets have you set aside to help fund your retirement? "
Read more at:
Business Succession: Questions You Need to Ask / iBerkshires.com - The Berkshires online guide to events, news and Berkshire County community information.:
For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.
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