Succession Planning - Planning Your Exit Strategy

Topic: Succession Planning Date: Feb 27, 2020 Time: 11:00 AM - 1:00 PM Location: Flat Rock Campus Building/Room: Con Ed 122 Cost: No cost due to sponsor support Your business started with a plan. It grew and became successful with a plan. Shouldn’t you have a plan to transition out of your business? It’s the right way to take care of your family, partners, and employees, all of whom rely on you to either make sure the business continues to be successful after you’re gone, or to convert your ownership to ready your absence. Succession planning starts long before you actually transfer your business, and involves working with your Trusted Advisor team: a qualified lawyer, CPA, and insurance broker. Get your finances in order. Determine what transition plan is best for you. Figure out the tax consequences of the transfer. Obtain appropriate life, health, or key-man insurance to fund the transfer. Key Points of Seminar: The effects of failing to plan for transitioning out of your business Getting your businesses’ finances in order for a prospective purchaser Discussing your transition with family, partners, and employees Working with your trusted adviser team to create and implement your succession plan

Speaker(s): Michael Palermo, Attorney & Sam Winogrond, CPA

Co-Sponsor(s): Henderson Co Chamber of Commerce & WNC SCORE

Fee: No Cost