{"id":58188,"date":"2019-03-21t12:00:15","date_gmt":"2019-03-21t16:00:15","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=58188"},"modified":"2020-08-06t15:36:23","modified_gmt":"2020-08-06t19:36:23","slug":"protect-your-clients-assets","status":"publish","type":"post","link":"\/\/www.g005e.com\/2019\/03\/21\/protect-your-clients-assets\/","title":{"rendered":"protect your clients’ assets"},"content":{"rendered":"

\"digital<\/a>get the plans locked down.
\n<\/strong><\/p>\n

by anthony glomski<\/i><\/p>\n

let’s look at ways to help your clients minimize taxes when they sell their business, to avoid leaving money on the table and to reduce concentration risk.<\/p>\n

more on liquidity:<\/b> even entrepreneurs must diversify<\/a> | when clients cash out: four smart financial moves<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

here we\u2019ll take a closer look at two common missteps that business owners and their advisors make during the exit process \u2013 and how to avoid them.
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\n transferring wealth effectively and tax-efficiently<\/strong><\/p>\n

in the wake of a liquidity event, it is possible \u2013 even likely \u2013 that your client\u2019s financial needs are well in hand. if so, they may be looking to ensure that their parents, children and grandchildren are well taken care of as well \u2013 and in accordance with their wishes and stipulations.<\/p>\n

transferring wealth through estate planning requires one to decide how their assets will be distributed when they are gone. for successful entrepreneurs, this means determining how and when their heirs will receive money or business interests, and ensuring that the maximum amount possible is transferred to their heirs \u2013 while minimizing taxes. proper estate planning is the most effective way for successful entrepreneurs to leave a legacy for their loved ones in a way that satisfies their wishes and provides for the financial health and well-being of their family. i\u2019m sure you\u2019ve seen clients endure years of stress when siblings and relatives attempt to sort out the estate of a recently deceased family member. the stress is even greater when substantial assets are involved, so make sure your entrepreneurial clients get their estate planning in order well before their exit takes place.<\/p>\n

estate planning is one of the most important, yet misunderstood, areas of entrepreneurs\u2019 financial lives. estate taxes, for example, usually receive all the attention, and it\u2019s easy to see why: if they are not properly addressed, the government can grab 40 percent of what the entrepreneur has worked so hard to build.<\/p>\n

that said, taxes are only one part of a broader estate planning picture. you and your client also need to focus on issues such as management and wealth succession concerns, selection of successor managers or trustees, and preparing loved ones to receive and make the best use of the money they will eventually inherit.<\/p>\n

estate planning can become especially important prior to a liquidity event when a successful entrepreneur is likely to experience a huge increase in net worth. yesterday, an estate plan may have been the last thing on their mind. today, it becomes a top priority. even with a thorough estate plan in place, going through a liquidity event will create dramatic changes to his or her personal balance sheet and will limit the potential advanced planning opportunities available.<\/p>\n

in short, estate planning is not a \u201cone and done\u201d exercise. the best estate plans are dynamic, living strategies that can be \u2013 and should be \u2013 adapted and optimized to reflect the changes that inevitably occur over the course of your life. make sure you are up to speed on the tax and accounting aspects of estate law in your state and be sure you have partnered with at least one, if not several, highly experienced estate attorneys to give your clients the best possible outcome pre- and post-exit.<\/p>\n

protecting your client\u2019s money from being taken unjustly<\/strong><\/p>\n

guarding one\u2019s newly acquired wealth against potential creditors, lawsuits, children\u2019s spouses, potential ex-spouses and catastrophic loss should be a key consideration. by historical standards, the number of lawsuits against the affluent in recent years is high. yet entrepreneurs rarely focus enough on protecting themselves. consider these sobering statistics<\/a> from prince associates:<\/p>\n