A Checklist For You And Your Business
Are you accumulating dollars before or after taxes?
Are you using your pension or profit sharing plans, which enjoy favorable tax status, as a means of distributing assets to your heirs?
Who advises your employees at retirement as to their various options?
Will new tax legislation affect the design of your existing qualified plan?
Who would own your business today, if you died yesterday?
How does the government value its interest in your business?
Are problems created when your stock is distributed to non-working members of your family?
Does your success as a business leader during your lifetime cause a liquidity problem in your estate?
How do you get cash out of your business on a tax-free basis, rather than in the form of dividends?
How much in added sales would it take to replace your key personnel?
Will your banker approve of successor management or call the notes?
Are the funds from your qualified plan available to help solve your executor's liquidity problems?
How do you keep and recruit top executives?
Are your employees forced to take reduced pensions at age 65?
Would your directors like to defer their fees until retirement?
Are your group benefits doing a complete job?
Who negotiates with the insurance company on your behalf?