While financial considerations are often the focus of these discussions, there are many philosophical and emotional considerations that play a vital role.
Business owners often postpone continuation discussions until they near the end of their tenure. In order to have access to many options for a successful continuation plan, it is strongly encouraged to engage this process as soon as possible. There are many available strategies that allow for the transition of a business to the next generation. To be truly effective, many of these concepts require a time line that extends many years.
The result of not having a business continuation plan in place can be financially devastating. The unexpected death or disability of an owner can severely limit many options for beneficiaries and shareholders. This scenario may result in the forced sale of the business to satisfy various estate and tax obligations that were not properly planned for.
The Vita Group designs strategies that enable clients to implement continuation plans to protect the future of their businesses for multiple generations.