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Business Succession Planning

Ensure Your Business’s Future when It’s Time to Retire

Retiring from your career is often as simple as deciding when you want to be done working and informing your employer—unless, of course, you are the employer. For business owners, retirement can be a complicated and stressful process with many legal considerations. How can you ensure that your business will continue to grow and thrive after you retire? We’ll help you develop a plan aimed at protecting you, your business, and your partners so that you can retire with complete peace of mind.

Developing an Exit Strategy for Your Business

There’s no single type of business exit strategy that will work for every company. Depending on your business structure, company size, and your personal wishes for your business’s future, there are a variety of business exit strategies for you to choose from:

  • Initial public offerings (IPOs)
  • Strategic acquisitions
  • Management buyouts (MBOs)
  • Employee stock option plans (ESOP)
  • Mergers
  • Liquidation
  • And more

We’ll explain the pros and cons of each exit strategy, help you decide which is right for your business, then walk you and any other relevant parties (such as your business partners) through the process of implementing your exit strategy. Then, when you’re ready to retire, you can do so with the confidence that the business you’ve built will continue to thrive.

Neither MML Investors Services, LLC nor any of its employees or agents are authorized to give legal or tax advice. Consult your own personal attorney , legal or tax counsel for advice on specific legal and tax matters.

Planning for Your Business’s Succession

It’s also important that you and your business partners determine the succession of the business should one of you pass away. Again, the right option for you will depend largely on business structure. We’ll sit down with you to discuss all aspects of your business’s succession, including the inheritance of your business shares and the potential need for life insurance for any business partners.

The right insurance and the right succession plan can help ensure your business continues after you or a partner passes away, while also ensuring that your family receives the benefits of what you’ve built.

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