With over 40 years combined experience in: Business Management, Management Consulting, Wealth Management and Financial Planning#, I am uniquely positioned to help business owners, executives, and professionals achieve their financial objectives,
Is your main retirement asset your family business? Maybe it is company stock in a tightly held corporation or partnership? For business executives and professionals it is a little different. They may have accumulated significant retirement assets in qualified plans, deferred compensation, or minority ownership in company stock. In their situation, as with the business owner, it is a matter of protecting those assets from erosion and taxes. My job is to ask the questions you haven't thought of yet; to help maximize the efficiency of wealth creation, reduce taxes, reduce risk, recover cost, and to protect your wealth.
According to The Family Business Institute¹ only about 30% of family owned businesses survive into the second generation. 12% are still viable into the third generation, and only 3% of all family businesses operate in to the fourth generation or beyond. Research indicates that failures can essentially be traced to one factor: an unfortunate lack of family business successeion planning. Do you want longevity for your business or do you want the same thing to happen? Over 98% of business owners don't know what their business is worth. Succession/continuation planning is difficult if you don't know what your most valuable asset is worth. Many business experts agree that it is more difficult to exit a business effectively than it is to start a new business. With my experience and the New York Life Advanced Planning Group, we have the resouces available to you to accomplish the succession strategy that meets your needs, whether it is in the family, or comes from an outside buyer.
Is your business providing you with benefits on the most tax-favored status? If a key employee left you today, would it be because a competitor offered a more attractive benefit package? What is your exit strategy from your business or professional practice? Do you have one in mind? All these are questions that plague business owners, executives, and professionals.
#Gary Zittlow does not currently offer investment advisory services.
What is Your Business Worth (10 Reasons)
Business Valuations (BizEquity)
Buy-Sell Agreement Planning:
Key Person Insurance Valuation
Nonqualified Deferred Compensation
Split-Dollar Life Insurance
Installment Sale for Business Succession
Addressing the Six Key Areas of Capital Accumulation and Protection
*increase asset protection
*reduce income tax liability^
*enhance retirement planning
*decrease capital risk
*reduce estate cost^
Stock Market Info
^Neither New York Life nor any of its agents are in the business of offering tax, legal or accounting advice. You should consult with your professional advisors for tax, legal, or accounting advice.
¹2016 Family Business Institute