Broker Check

Business Services

Continuation Planning

Continuation Planning

Your business is likely one of your family's most valuable interests worth protecting. The way you structure your business continuation plan can determine the safe, timely transfer of duties in the event of an unexpected loss in leadership. Just as estate planning is critically important to a family's transfer of wealth, a business continuation plan is critically important for the seamless transfer of ownership/leadership for your family business, its employees and its client base. The key is to pick the most meaningful plan for your circumstances and goals, and work with an experienced team of financial and legal advisors to help sculpt an air-tight course of action.

The Importance of Succession Planning

Whether you decide to sell, transfer or gift your business to the next generation of leadership, the means by which you transfer your interest can have important implications. In order for your desires for business continuation to be met and carried out, it requires the collaboration of any number of financial, legal and tax-savvy professionals. Common business succession planning objectives include, but are not limited to:

  • Ensure smooth, seamless transfer of ownership
  • Transfer business to the next generation
  • Ensure business continuity
  • Ensure retirement income to outgoing leadership
  • Minimize gift and estate taxes

Beronio Wealth Planning and LPL Financial do not provide legal advice or services.

Entities & Tax Planning

There are four basic categories of business entities: sole proprietorships, partnerships, limited liability companies, and corporations.  Each one has its own set of unique rules and advantages, however it's important to outline your goals with a coordinated team of financial, legal and tax professionals to determine which entity is right for your business.

Sole Proprietorship

  • Limited Partnership (LP)
  • Limited Liability Partnership (LLP)

Limited Liability Company (LLC)

  • C Corporation
  • S Corporation

Beronio Wealth Planning Solutions and LPL Financial do not provide legal advice or services.

Have a Question?

Thank you!