Key Takeaways:

• Know your options after selling a business: Understanding different types of business entities helps you plan for taxes and align with your financial goals.


• Choose the right structure for your needs: Setting up trusts or family offices can reduce taxes, protect your assets, and support long-term legacy planning.


• Plan early before the sale: Preparing in advance gives you more control and flexibility for your next ventures or retirement.


• Work with financial and legal experts: A trusted team can help you make smart decisions to protect and grow your wealth.


• Consider a family office: This setup helps business owners manage their money and investments effectively after exiting their company.

Chapters:

0:00 Entity Planning for Big Liquidity Events

2:47 Strategic Planning for Business Sale and Wealth Allocation

5:08 Tax Implications of Trusts and Family Limited Partnerships

6:47 Using Life Insurance Trusts for Legacy and Wealth Transfer

8:08 Understanding Family Offices for Wealth Management and Estate Planning

10:06 Planning Business Exits

11:21 Consult Advisors Before Investment; Past Performance Isn’t Future Proof

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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.