The terms succession planning and exit planning are sometimes used interchangeably. At the same time, legacy planning is a part of succession and exit planning strategies but can be addressed on its own for those high-net-worth individuals (HNWIs) who are not also business owners. While succession, legacy, and exit plans require care and attention, there are some important differences.
The advantages of choosing to implement Employee Stock Ownership (ESOP) as a part of your exit plan, vs. selling your company to an outside entity depends on your specific situation.
Have you ever asked your financial planner, "What's your company culture like?" If you’re new to financial planning, it can be difficult to know what questions to start with—even if you’re not new to planning, this is true. Here are five questions to ask your financial planner at your next meeting.
One example of intention influencing financial planning is succession planning and inheritance. The intention behind financial planning is to set up your family members for success and provide for future generations. Since there is a passion for protecting your loved ones, the intention fuels the fire of financial planning.
The Los Angeles Times reported that “about $36 trillion will flow from one generation to another over the next 30 years.” This is a huge sum of inheritance to manage, and the conversations leading up to receiving said inheritance might feel uncomfortable or morbid. but they don’t have to feel this way.
At Centura Wealth Advisory, we believe in providing our clients with full transparency. In an effort to display this value, we’ve decided to give you a little insight into who our team is. Recently, Centura Wealth has dedicated time to improve its employees’ lives outside of work through encouraging journaling, meditation, appreciation for others, and so on. Hear from our very own Centura Wealth employees about how these practices create energy in the workplace!