If you own a family business, it is likely one of your largest
assets and it might be the most difficult to monetize. How you
handle it can have a significant impact on your overall retirement
and estate plans.
There are a number of different exit strategies for a family
business, including transferring to the younger generation, selling
to your company's management team or to an employee stock
ownership plan, or selling to a third party. The best option
depends on several factors, including your financial resources,
your retirement goals and your family's interest in taking over
the business.
Eying the future
Before you formulate a strategy, it is important to consider
your retirement needs. You will need to estimate what your
annual cash needs will be during retirement, while considering your
other sources of income and whether you will wish to continue
working for a certain period after exiting the business. Having a
professional perform a Monte Carlo
