Business Succession Planning – Defer Between Management and Ownership with John Dewey

Business Succession Planning – Defer Between Management and Ownership with John Dewey

Family Businesses are usually set up and meant to be passed on to key employees or the next generation. This can sometimes bring concern of how to do it correctly without affecting the business, and can sometimes become difficult trying to decide on who is the best fit for the position. John Dewey Business Succession Planning can and will help you through this difficult process early on so it’s the least bit stressful when the time comes. This isn’t always a financially affordable or manageable situation. With John Dewey’s help you will be prepared financially and mentally to take this frightening step in your family business. John Dewey with teach you the strategic planning it takes for a smooth transition. Failure to properly plan for a smooth transition can not only result in monetary loss, but possibly even the loss of the business itself. John Dewey can explain and walk you through the process of keeping the business in the family and running smoothly.

John Dewey Business Succession Planning will walk you through an essentially three step process to keep your business in the family and heading for success. One thing that is important to know and keep fresh in mind throughout this process is that ownership and management of the business are two entirely different things. This is extremely important in this process since the first step teaches you about management. Another thing to keep in mind is that with several children in the family, you can use them all to fit into different positions where they work best to strengthen the foundation of your family owned business. For example, if you have a child who holds great leadership and self-motivation skills, it might be best to place them into the day-to-day management position. Let John Dewey walk you and our family through this process to place your next of kin in the best positions for the strength of the company. Ownership of the business is something you want to leave jointly to all the children, even if they aren’t all active in running the business, this way it says family owned.  If you have a key employee for management or one in mind that can take over the position, this is also a grand possibility. John Dewey can help evaluate your family business and employees to help you make this decision.

Business Succession Planning – Defer Between Management and Ownership with John Dewey

Business Succession Planning – Defer Between Management and Ownership with John Dewey

To defer ownership from management, this will be the second step of the transitional plan. John Dewey will train you fully on ownership of your family owned business, and how you can protect the future of your business by setting up a smooth transition properly. He will help you set up an affordable plan. With a family business the most successful and likeable plan is to keep the business in the family. Ideally ownership would go to the children who are most active in the business, but as a parent it is understandable to want to treat all of your children fairly and equally.  John Dewey Business Succession Planning will help you to give joint ownership of the family business to your children. Another benefit of this process for the protection of the business is that if your business is jointly owned by several children, it ensures more likely that the business will stay within the family. In order to leave all of your children a share of the business, even the inactive children, you would need to possess non-business assets as well. With John Dewey’s help you will reach maximum potential for business and non-business assets to provide your children with. He can provide you with a business succession plan that provides the means of transferring wealth to your children that are not qualified or interested in continuing or running the family business.  The plan that you can set up with John Dewey’s help will deliver the most effective way of transferring wealth as well as the most appropriate time for the transfer to occur. Planning the time of the transfer can be confusing or stressful with life being so unpredictable. Take the load off and relax. John Dewey can help.

The third and final step in this planning process is one that most people forget about or ignore until the time of the transfer, which is transferring taxes. This part of the process can be draining, confusing, and costly. Did you know that estate taxes can claim all the way up to 45% of the value of the business? John Dewey Business Succession Planning can help you through this process in the most effective and affordable manner. Without a proper plan in place, or with procrastination, you may need to liquidate or push a debt onto your children that take over the business, just to keep the business going. Keep in mind, during the second step of this process, John Dewey helps you reach full potential of assets to pass on to your children. Failure to set up a plan for transferring taxes may result in losing all that you worked for in step two, therefor leaving your children and business with less, if anything at all. This is why it’s important and simpler to get the help that John Dewey offers. He will set up a plan with you that ultimately will reduce and quite possibly even eliminate Estate taxes all together. Get John Dewey on board with your business today and continue on worry free towards and throughout the transfer of your family business.

Business Succession Planning – Defer Between Management and Ownership with John Dewey