Several months ago, I was a guest on the Virtual U.S. Financial Advisors podcast, where I shared details of my financial assessment process. We have divided this episode into 8 parts which we shared with you over the past few weeks.
In the 6th installment of this eight-part series, I shared my insights on what could happen in the event that the next generation of the family is not interested in running the business.
In this episode, I discussed:
(01:29) How to work with key team members when it comes to business considerations and income needs.
(06:08) How to keep a business functioning in the event of the owner’s death or disability
(06:58) What is a buy-sell agreement
(12:44) The advantage of having plans in place in case a spouse dies
(15:21) The value of having the foresight
P.S. Financial needs and concerns vary for each person. If you wish to take your financial assessment with me, go to www.highliftfinancial.com and click on Let’s Talk.
Connect With Matt DiFrancesco:
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DISCLAIMER:
The information compiled and posted here solely represents the opinions and views of the guest. It might not be similar to the opinions and views of High Lift Financial. It is not a substitute for tax or legal advice or professional investment.
Always consult your financial advisor with any personal or business planning queries. DiFrancesco Financial Concierge, LLC. d/b/a High Lift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.