Business Succession Planning

Elevating Business Succession Planning for the Business Owner

Navigating the intricacies of business succession planning requires a nuanced approach, especially for business owners whose personal and business finances are deeply intertwined. At Momentum Wealth, we recognize the unique challenges and opportunities that arise from this integration, providing sophisticated solutions that cater to both your personal and professional aspirations.

Who We Are

At Momentum Wealth, we specialize in empowering business owners through tailored financial, operational, and strategic services designed to foster growth and security. Our mission encompasses everything from routine bookkeeping to the formulation of advanced long-term succession plans. We aim to streamline your operations, optimize tax strategies, and secure your financial legacy.

Advanced Planning Strategies

Our approach goes beyond the basics, delving into advanced planning strategies such as family limited partnerships (FLPs). FLPs offer significant benefits in terms of asset protection and tax planning, enabling you to transfer wealth to future generations while maintaining control over your business. Furthermore, understanding the rule against perpetuities and the advantages of establishing domicile in states without this rule can provide additional flexibility in your estate planning, allowing your legacy to endure beyond traditional constraints.

Strategic Tax Planning for Business Sales

One of the most critical aspects of business succession planning is managing the taxes associated with the sale of a business. We assist business owners in aligning their objectives with tax efficiencies, employing strategies to mitigate the impact of taxation on their wealth. Techniques such as Section 2032A (special use valuation) can be instrumental in pegging your business valuation to a more favorable figure, thereby reducing estate taxes and preserving wealth.

Buy-Sell Agreements and Key Man Insurance

Protecting your business against unforeseen events is paramount. We offer guidance on buy-sell agreements, ensuring seamless transitions in ownership, and key man insurance, which provides financial stability in the event of the loss of a pivotal employee or owner. These instruments are essential in safeguarding your business’s continuity and financial health.

Valuation Discounts

Utilizing minority and marketability discounts can offer substantial advantages when valuing your business. These discounts reflect the reduced value of shares that lack control or marketability, thereby lowering the overall valuation for tax purposes. This strategy can significantly reduce your estate’s tax burden, preserving more of your wealth for future generations.

Holistic Financial and Risk Management

Our comprehensive approach addresses both financial and risk management strategies to protect your wealth upon retirement, disability, or death. We help entrepreneurs navigate the personal, tax, legal, and financial aspects of selling a business, ensuring all considerations are meticulously planned and executed. By coordinating liquidity needs with business and estate objectives, we provide a seamless transition of wealth.

Customized Solutions for Your Unique Financial Situation

We work closely with you to build a holistic plan that encompasses everything from tax and risk management to business succession and retirement planning. Our integrated strategies are designed to meet both your personal goals and professional needs, supported by coordination with your legal and accounting advisors.

Why Choose Momentum Wealth?

Choosing Momentum Wealth means gaining access to tailored solutions meticulously designed to address the unique needs of your business. Our team of seasoned professionals excels in bookkeeping, taxes, banking, and strategic planning, offering a holistic approach that blends financial acumen with strategic insights. We are committed to your long-term success, providing ongoing support and expertise to ensure your business flourishes.At Momentum Wealth, we are more than just a service provider; we are your dedicated partners in achieving enduring financial success and growth. Let us guide you through the complexities of business succession planning and help you secure your legacy for generations to come.

Any reference to Tax or Legal:

The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

‍

‍Insurance:

Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.

191 Waukegan Road, Ste 350
Northfield, IL 60093

We take a comprehensive, long-term approach to wealth management that helps our clients meet their immediate needs. We create bespoke, lasting solutions for all of life’s financial milestones.

HomeContact

Services

About

Disclosure

Copyright © 2025. Momentum Wealth Management. All rights reserved.
Privacy PolicyDisclosurePowered by Funnelpot