Ownership Planning
Ownership Planning is a part of succession planning having to do with how the ownership is transferred to the next generation. It focuses initially on the economic security issues for the parents and determines whether or not the stock will be gifted, sold, or the form in which it will be transferred. This is a highly technical area of planning that includes a multi-disciplinary team of advisors to assist the owner-entrepreneur in the completion of the Ownership Plan.
Related to the Ownership Plan is the Estate Plan. The six priorities for estate planning include:
Ownership planning also includes wealth preservation planning, as well as wealth preparation planning. Wealth preservation planning is where the owner-entrepreneur work with his/her advisors to preserve the wealth that they have created. Related to this is wealth preparation planning which is planning for the impact of money on the family so that the adult children and grandchildren are not corrupted by money, and that the family can live consistent with its values regarding money. Another aspect of ownership planning is determining a family policy about distributions and whether or not there will be distributions above and beyond the distributions for tax purposes. It is often a delicate issue in family businesses and is something that needs to be addressed directly. The final aspect of ownership planning is the development of the board of directors. When necessary, the creation of an active governance function within the family business. Money and the Family Business Money represents one of the three most difficult topics of discussion in our culture. Money and the emotional conflicts it creates for family-owned businesses are well documented, particularly in the areas of ownership, compensation and estate planning. Professional financial strategies combined with thoughtful family discussions, can prevent the erosion of family relationships due to issues of money. Family Wealth Preparation Planning If you're concerned that wealth transferred to your children will act as a disincentive or erode family values, our Family Wealth Preparation service can help. It presents ways to use financial resources in a positive way and prepares children in families of significant wealth for stewardship. Our Family Wealth Preparation service shows family members how to use their wealth as an extension of your family values. Discussions cover philanthropy and how family members can lead purposeful lives, contributing to the community and their family. Shareholder Education Shareholder education is designed to assist, the next generation, in the development of their responsibilities for Stewardship of the Family Assets, Board Governance, and Financial Acumen. MORE THAN ASSET PROTECTION, IT'S PROTECTING YOUR LIFE'S WORK. |
SCHEDULE YOUR FREE ORIENTATION MEETING.
Take this risk-free first step in ensuring the continued success of your family business now. There is no charge for the orientation meeting other than out-of-pocket expenses for travel.
|
We've found both the family-owned business and the personal relationships benefit by protecting economic security. Four concerns drive the senior generation in family-owned businesses:
Because the family business is often the owner's primary asset, the asset protection plan needs to guarantee economic security. Along with that is the peace of mind that comes with knowing everything you've worked for will be there for the next generation. There are also many ways to save the owner/entrepreneur taxes. We can help you create a transition plan addressing these concerns.
Protecting the economic security of your family with a well-considered transition plan is essential for the long-term success of any family business. We can help you with your asset protection. Email us, call us at 612.375.0640, or fill out our contact form.
- Health Concerns
- Family Harmony
- Economic Security
- Legacy
Because the family business is often the owner's primary asset, the asset protection plan needs to guarantee economic security. Along with that is the peace of mind that comes with knowing everything you've worked for will be there for the next generation. There are also many ways to save the owner/entrepreneur taxes. We can help you create a transition plan addressing these concerns.
Protecting the economic security of your family with a well-considered transition plan is essential for the long-term success of any family business. We can help you with your asset protection. Email us, call us at 612.375.0640, or fill out our contact form.
ESTATE PLANNING: COMBINING THE TABOO SUBJECTS OF MONEY AND DEATH.
It's no wonder why estate planning is avoided. But it is necessary because it enables the owner/entrepreneur to benefit from their financial investment in the company. While tax planning is the number one priority for doing estate planning, families in business want estate planning to help the next generation run the business. Estate planning can also help you assure economic security and asset protection for the senior generation.
Estate planning is also necessarily for equitable treatment of the children.
It's often difficult for parents to treat their children equally because they're so different. As a result, it's important to develop a plan. Then, once the plan is established, the family needs to get together and discuss how the parents plan to address the adult children equitably. Often the younger generation can make suggestions and clarifications that allow the parents to fine tune their plan with their estate planning professionals.
Whether it's effective tax planning, guaranteeing seniors' economic security or planning the equitable distribution of assets in the future, effective planning today can ease the burdens of running the family business tomorrow. We can help with your estate planning starting now. Email us, call us at 612.375.0640, or fill out our contact form.
Estate planning is also necessarily for equitable treatment of the children.
It's often difficult for parents to treat their children equally because they're so different. As a result, it's important to develop a plan. Then, once the plan is established, the family needs to get together and discuss how the parents plan to address the adult children equitably. Often the younger generation can make suggestions and clarifications that allow the parents to fine tune their plan with their estate planning professionals.
Whether it's effective tax planning, guaranteeing seniors' economic security or planning the equitable distribution of assets in the future, effective planning today can ease the burdens of running the family business tomorrow. We can help with your estate planning starting now. Email us, call us at 612.375.0640, or fill out our contact form.
WEALTH CARE MANAGEMENT: WEALTH PRESERVATION & WEALTH PREPARATION PLANNING
TOOLS FOR PROTECTING ASSETS AND RELATIONSHIPS
Many family businesses prepare for the future through wealth preservation, a tool consisting of wills, tax preparation, trusts, and investments. Specialists in these areas work in concert with you, your family members and your advisors to successfully protect your assets. Just as important as wealth preservation is Wealth Preparation Planning. Its purpose is to prepare family members for the responsibility and emotional impact of wealth.
Introducing Wealth Care Management.
Wealth Care Management is our proprietary approach to joining the financial considerations of Wealth Preservation Planning with the emotional considerations of Wealth Preparation Planning. Wealth Care Management is the greatest assurance that can be taken for preserving wealth through succeeding generations.
A two-part process, Wealth Preparation Planning begins with an examination of family heritage.
The second part of Wealth Preparation Planning explores and identifies:
You've worked too hard to let the family fortune slip through your fingers. Wealth Care Management can help you for today and generations to come. Contact us today by Email us, call us at 612.375.0640, or fill out our contact form.
Introducing Wealth Care Management.
Wealth Care Management is our proprietary approach to joining the financial considerations of Wealth Preservation Planning with the emotional considerations of Wealth Preparation Planning. Wealth Care Management is the greatest assurance that can be taken for preserving wealth through succeeding generations.
A two-part process, Wealth Preparation Planning begins with an examination of family heritage.
- History and ancestry
- Visions and values
- Family stories, traditions and wealth values.
The second part of Wealth Preparation Planning explores and identifies:
- Values
- Self loving
- Caring
- Life meaning
- Generativity
- Fulfillment
- Sense of purpose
You've worked too hard to let the family fortune slip through your fingers. Wealth Care Management can help you for today and generations to come. Contact us today by Email us, call us at 612.375.0640, or fill out our contact form.
BOARD CREATION AND DEVELOPMENT
Board Creation and Development is another priority when dealing with family business ownership planning. If you have questions or would like more help creating or developing a board of directors we can help.
If you would like to learn more about our Board Creation and Development services please Email us, call us at 612.375.0640, or fill out our contact form.
If you would like to learn more about our Board Creation and Development services please Email us, call us at 612.375.0640, or fill out our contact form.
AboutHubler for Business Families helps family businesses manage the boundary between their business/financial concerns and family relationships.
LEARN MORE |
Services |
Platinum GroupHubler for Business Families and Platinum Group are merging to meet the unique challenges of family owned businesses.
LEARN MORE |
Resources |
© COPYRIGHT HUBLER FOR BUSINESS FAMILIES 2022. ALL RIGHTS RESERVED.
WEBSITE DESIGNED BY: SKOL MARKETING
WEBSITE DESIGNED BY: SKOL MARKETING