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Managing Wealth in Business Transitions

Your business is more than just a job; it holds deep history, tremendous value beyond financial measures, and may be a legacy you want to leave. As you begin to walk through the process of assessing the monetary value of your business with your tax advisor or CPA, you may begin to have questions about how to get the most out of the sale.

Writing a large check to the IRS doesn’t sound like a winning strategy, does it? The truth is, every decision about the sale of your business carries complex tax implications and one wrong move could mean less in your pocket.

Utilizing a specialized wealth advisor when you are looking to sell or transfer ownership of your business can help keep your best interests at the forefront both before and after the sale of your business.

What sets our firm apart is going above and beyond wealth management and financial planning. We take it a step further as our team provides:

  1. Support for your time of transition.
  2. Relationship management through ongoing communication with attorneys and/or CPAs.
  3. A compassionate, understanding and listening ear when life seems complex.

Getting the Value out of Selling your Business

Pre-Sale: Before any contracts are drawn up and you sign on the dotted line, it is important to understand the nature of the transaction and the potential tax consequences involved. We work closely with your CPA, legal team, and tax advisor to determine if there are any changes that need to be made before the sale is structured, and we will help explore tax-minimal options for you in the transaction itself.

Post-Sale: The overall intent in the sale of your business is to catch a windfall, right? Once you have the cash in hand, or continual royalties and payments coming in, you have new opportunities at your door. Protecting your wealth and investing wisely is the key to living a comfortable life and enjoying your influx of wealth. With a customized plan and ongoing advice from our advisors, you’ll realize a whole new level of potential.   

Allow our team to demonstrate the impact of our cooperative service approach as you manage a transition in your business. Schedule a consultation with California Wealth Transitions today.