Planning for Unexpected Exits and Succession in Family-Owned Businesses

Planning Reimagined

In this episode, we dive deep into the critical aspects of estate and business transition planning. Celeste welcomes experts Oliver Cohn and Israel Miller to discuss the necessity of a well-thought-out exit strategy for business owners.

The conversation covers everything from ensuring business stability and proper due diligence to the emotional and financial complexities involved in successfully passing down or selling a business. They also talk about importance of having the right advisers and detailed preparation to ensure smooth transitions, whether through a third-party sale or family succession.

Oliver and Israel provide real-world examples and practical advice on mitigating risks, maintaining business value, and preparing for unforeseen circumstances.

For more information and to connect with Oliver, visit:

https://bulkleycapital.com/team-member/oliver-cone/

And to connect with Isreal: https://www.lockelord.com/professionals/m/miller-isreal

To schedule an appt with the Robin Glen team, visit: www.calendly.com/ccmoya

To learn more about Robin Glen, visit: https://www.robinglen.com/

Key Topics Discussed:

• Importance of demonstrating stability in business
• Retention of owners post-sale for smooth transitions
• Due diligence and discovery of hidden liabilities
• Common issues impacting business sales
• Dynamics of negotiation and relationship preservation
• Role of experts in successful business transitions
• Realistic market expectations and professional valuations
• Formation and management of LLCs
• Updating buy-sell agreements and insurance policies
• Emotional and financial complexities in family business transitions
• Steps for preparing a business for future sale or succession