Many business owners often devote far more attention to minimizing income taxes than to dealing with the estate tax. Effective estate planning may significantly reduce the amount paid.
The business you have worked so hard to build is a double-edged sword. It can continue to enrich your family or, as is too often the case, destroy it. The difference revolves around emotions, jealousies, competition, talent– and the lack of it–among your heirs.
A pension plan, deferred compensation plan and other employee benefits are major components of any business plan. They can provide even greater benefits when they are coordinated into a business succession and estate plan.
At SHG Planning, we provide business owners with the financial instruments they need to engage in succession planning, estate planning, protecting against the loss of a key person and other such challenges and initiatives.