Transition and Exit Planning Using our business, legal and tax insights, national resources, professional affiliations and trusted strategies, we advise business owners around the country on planning for and then executing a successful transition and exit from their closely held or family business.
What Does Our Firm Do?
What Other Professionals Do We Work With?
We have a network of affiliated professionals who work with us and our business owner clients to provide - as needed - the depth and breadth of talent which may be necessary for certain business owner transitions to be successful. This includes, for example, the following advisors, depending on the owners existing team: financial and wealth advisor, insurance advisor, private banker, specialized CPA, M&A transaction specialist, business appraiser, ESOP specialist, human capital advisor, executive coach, management consultant and compensation consultant.
What Business Sectors Have We Been Engaged To Provide Transition and Exit Planning Guidance For?
Consumer Product Manufacturing, Industrial Manufacturing, Business Services, Food and Beverage, Construction, Engineering, Health Care, Agribusiness, Real Estate, Distribution, Financial Services, Retail, Human Resources, Franchise, and Consumer Services.
How Are We Engaged To Help You With Your Transition, Succession And Exit?
We typically work with business owners in 1, 2 and/or 3 ways, depending on your needs, priorities, time horizon and/or preferences:
1. Specific Transition, Succession and Exit Planning Strategies. To address one or more specific transition, succession or exit planning strategies, techniques or tools that you need or want to put into effect (e.g. Buy-Sell Agreement, Business Owner Estate Plan, Asset Protection Plan, Business Model Innovation Program, Leadership Development Program, Tax Saving Plan, Inside Route Exit Plan, Outside Route Exit Plan).
2. Transition Growth Plan. To design your Transition Growth Plan (also known as an Exit Plan, a Succession Plan or a Business Continuity Plan) – a blueprint for the 5 to 15 years leading up to your exit. Under our program, this addresses the 12 critical components to a successful transition and exit.
3. Company Sale or Transfer. To structure and implement an immediate or near term sale or transfer of your company to an outside party, employees, ESOP or family.
Do We Work Around The Country?
We work with business owners located throughout the country for their transition, succession and exit planning. Recent client engagements have included business owners located in Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Jersey, New York, Texas and Wisconsin.
How Do We Help You Decide
What Needs To Be Done?
Our Pre-Exit Fitness assessment provides you and us a solid focus on what needs to be done now and later. Our Menu of solutions enables us to work with you and your other trusted advisors to quickly decide which actions you need to take.
Is There A Fee For An Initial Transition and Exit Planning Meeting?
No. If we decide to work together, we will discuss our fee and sign up a short engagement letter.
What Should You Bring To The First Meeting?
At our initial meeting you should bring your Company’s most recent Financial Statements, Tax Return and Organization Chart and your Personal Financial Statement.
Do We Work With Your Existing Advisors?
Yes. By including your other trusted advisor(s) in this process, we are typically able to achieve the right solutions more quickly.
What Should You Do Next?
Please contact us to set up a confidential, no obligation meeting or conference call.
Nick Niemann
McGrath North Law Firm
(402) 633-1489
To contact Nick via email, click here.