Succession Planning

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Succession Planning From Lake Norman Benefits

Many people have worked most of their lives to build closely held businesses. This effort usually creates a high level of satisfaction, as well as significant wealth for the family. One of the goals of building a family business is that it may be passed on to the next generation with a minimum of tax and family problems. However, problems often arise, because of the failure to think ahead about tax issues and the differing interests that family members may have.

Our experts work with families to plan the transition of business ownership, while protecting the older generation and insuring a comfortable retirement.

We can help to preserve family businesses to the second and third generations and even beyond, while working to minimize the tax liabilities arising from such transfers.Using solutions such as:

  • shareholders’ agreements
  • special compensation arrangements
  • insurance planning
  • family financial counseling

As with every line of coverage we implement, we represent many different carriers to assist us in providing this coverage.  Our experience has shown that no one carrier is the perfect solution for everyone.  Comparing plans from the top providers in the market place ensures that we get you the best coverage for the lowest cost.  Please email or call us or request a quote.