Exit and Succession Planning Services

Exit planning is based on one simple premise: at some point, every owner leaves his or her business. At that time, every owner wants to receive the maximum amount of money in order to accomplish personal, financial, income, and estate planning goals.

Our Experience

Exit Planning is based on one simple premise: At some point, every owner leaves his or her business. The question is whether the owner will leave in a way that protects the owner, his or her family, and the business. Exit Planning is a process designed to allow the business owner identify and achieve his or her financial, personal and estate planning goals. Exit Planning incorporates all of the separate practice areas at Minor & Brown.

But what exactly is an "Exit Plan"? And just how is one created? An Exit Plan is a written roadmap outlining the results of the Exit Planning process. Every owner should address all parts of the 7-step process, even though they might concentrate on one part more than another. Minor & Brown works with the owner's other advisors to develop this Exit Plan. This team approach allows the owner to capitalize on the specific areas of expertise of each advisor in developing the Exit Plan, and to have a comprehensive and coordinated plan.

The Exit Planning 7-Step Process

Step One: Establishing Owner Objectives
Step Two: Establishing Business Value
Step Three: Protecting and Promoting Business Value
Step Four: Selling to an Outsider - often for Cash
Step Five: Transfers to an Insider, such as Management or Family - often for a Promissory Note or other Deferred Payments
Step Six: Contingency Planning for the Business,
e.g., in the event of the Owner's death
or disability before a final Exit
Step Seven: Contingency Planning for the Owner
- Estate Planning to achieve personal goals
- Wealth Preservation Planning

Practicing Attorneys