" Exit Strategies For Closely Held Businesses "

Date: Tuesday, November 2, 2021
Time: 7:30am - 9:00am
Location: San Juan Hills Golf Club 3210 San Juan Creek Road, San Juan Capistano CA 92675
Speaker: Gary Edkins CLU®,LUTCF®

When a business owner dies or becomes incapacitated, their successors may have a new “business partner,” the IRS, a liquidating trustee, a conservator, executor, probate judge, or major creditors. Surviving partners or shareholders may have another new partner, a widow or other heirs who may have no experience in the business, but who may have no other source of income. Without an arms- length buy/sell agreement, the IRS may attempt to inflate the value of the business for estate tax purposes. Even if the business can find a lender, the burden of funding a buyout could overextend business cash flow, and limit working capital for business expansion. A Buy/Sell Agreement allows for an orderly transfer of the partner’s or shareholder’s business interest in the event of their death or disability, which can be funded with life insurance or disability buy-out insurance.

Gary Edkins offers financial planning services and investment advisory services through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. VISION! Executive Insurance & Financial Services is not affiliated with The Prudential Insurance Company of America and its affiliates, including Pruco. Other products and services may be offered through a non-Prudential entity. 1-800-778-2255.

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