Services

Small Business Financial Planning

As a small business owner myself, I know you have devoted countless hours toward building your business—you probably don’t want to think about the time when you will no longer be able to run the business.  You also don’t want to jeopardize all your hard work and put your business at risk because you didn’t have a plan in place to protect your business, your family, your employees and yourself.

Insurance is one way to help family members lessen the financial impact of the death of a principal of a business.  It can provide the funds that are needed to finance the purchase of the business or to pay taxes. It is also a way to satisfy other needs of a business, such as meeting payroll or covering business expenses, during the time it takes to settle the estate. You can use insurance to pay business-overhead expenses, such as rent and utilities, during the time a business owner is disabled. It can help protect you from the loss of certain employees who are critical to your business’s ability to function.

As an employer, you need to ensure that you, and your employees, are on track for retirement. This is especially critical for small-businesses as you or your employees are not covered by a corporate pension plan. Life can be unpredictable and, for many, retirement may not be a choice—it can be the result of illness or economic conditions. Even if you do continue working past traditional retirement age, longer life spans make retirement savings that much more important.  If you retire at age 65, you can expect to spend another 20+ years in retirement. This is especially important for women, who are expected to live, on average, to age 85 as compared to men living, on average, to 82.

You depend on your business as a source of income for yourself and your family. Your business is an investment in your future and a major portion of your estate. Therefore, in addition to creating and maintaining a proper business plan, it’s important to consider your insurance and retirement-plan options carefully in regard to how they can help you pursue your business and personal- finance objectives. It’s never too early to think about planning ahead.

Small Business

• Continuity Planning (buy/sell, key man)
• Health and welfare plans
• Retirement plans
• Non-qualified plans
• Defined Benefit plans
• Group health, life and disability
• Long term care
• Employee Benefits