精东影业

How do I鈥

Protect and grow my business?

You want your business to maintain its competitive edge. Attracting talent and building a succession plan for the future means you can help ensure your business stays in stable hands.

You want your business to maintain its competitive edge. Attracting talent and building a succession plan for the future means you can help ensure your business stays in stable hands.

Your business represents countless hours of planning and plenty of hard work. You want to protect it鈥攏ow and after you鈥檙e gone, from retaining your workforce and improving operating expenses to writing a succession plan. We have resources that can help promote the growth, success and longevity of your business.

What constitutes a strong protection plan for my business?

A business protection plan guards the enterprise against the unexpected. It also lays out a clear plan for the future. Your plan addresses the following: lining up the next generation of leadership; a buy-sell agreement, which leaves no ambiguity about future ownership of the company; and protections and benefits for employees, so your company attracts鈥攁nd retains鈥攁 strong workforce.

Source:
Deloitte Business Succession Planning

Does my business really need a formal succession plan?听听

Yes. It鈥檚 as tempting to put off crafting a succession plan as it is to put off writing a will. But you cannot assume everyone knows your wishes about the future of your company. Not spelling things out could lead to confusion and frustration that ultimately harms the business鈥攁nd tarnishes your legacy as a business owner. So, move succession planning up on your to-do list.聽

Source:
Wilmington Trust, 鈥淲ilmington Trust Survey Reveals Vast Majority of Business Owners Unprepared to Sell Business or Transition, Even as Many Approach Retirement Age鈥

How can I ensure a smooth transition after I鈥檓 gone?

A buy-sell agreement makes things clear and easy. This document is a legally binding contract that smooths the transition of business ownership. It also protects your family and the business by outlining a clear path for distribution of the business owner鈥檚 share. Getting such an agreement in place eases everyone鈥檚 minds and infuses the leadership group with confidence about the future of the business.聽

Source:
Deloitte Business Succession Planning

Customer Story

5 Elements of a Strong Succession Plan

Could your company thrive without you? Keep your business growing聽and strong鈥攁nd your family protected during the transition.

View our infographic illustrating 5 elements of a strong succession plan.

View Infographic

Products to Protect Your Business

Cash Value Life Insurance

Offers death benefit protection with tax deferred cash value build up, and tax-free access to the cash value via policy loans and withdrawals.

LEARN MORE

Find a Financial Professional

You want to reach your goals. A financial professional can help you get there.

Frequently Asked Questions

How may I transition the ownership of the business?

Without proper planning, the sudden death or disability of a small business owner may have a devastating impact on the business, the business鈥 employees, and the other business owners. It may also have a significant financial impact on the business owner鈥檚 family. A properly structured business continuation plan (i.e. a buy-sell agreement) funded with life insurance may help to minimize the impact for both the business and the business owner鈥檚 family. Talk to your financial professional to learn more.

What is a business continuation plan for a business with many owners?

Because a business with multiple owners may need flexibility, there are a variety of ways to structure a buy-sell arrangement, including Entity Purchase Buy-Sell, Cross-Purchase Buy-Sell, Wait-and-See Buy-Sell, and a One-Way Buy-Sell. Talk to your financial professional to help you discover what strategy may be right for you based on your business planning needs.

How do I help protect my business against the loss of a key employee?

The success of a business may hinge on the ideas and leadership provided by a key executive. The sudden death of that key executive may have a severe economic impact on the business due to the loss of that executive鈥檚 unique skills and abilities. Additionally, the business may have to spend substantial amounts of cash to recruit and train the replacement executive. A prudent strategy to protect the business during the transition period is key person life insurance. Talk to your financial professional for details.

How can my business stand out in today's competitive climate?

Whether you are looking to provide your employees a comprehensive 401(k) or a plan that incentivizes key employees only, you may fund a variety of customized solutions with our mutual funds, annuities, and life insurance. We offer professional, consultative support and quality financial products to help you complete your employee benefits package. Talk your financial professional and qualified and independent tax and legal advisors for details.

How can I help provide a comfortable retirement for my employees?

Inadequate retirement savings is not only a concern for the owners and employees of a business but also for their families. For those close to retirement, the problem can be two-fold: how to provide for their families and how to save for retirement in a limited timeframe if the employee dies prior to retirement. A split-funded defined benefit plan funded with life insurance and other assets/investments may be able to provide both meaningful death benefit protection and supplemental retirement benefits. Talk to your financial professional to help you discover if this or another strategy using life insurance or another financial product may be right for you based on your business planning needs.

What if I want my business to end up being employee-owned?

One way to plan is with an Employee Stock Ownership Plan (ESOP). An ESOP is a special type of qualified profit-sharing plan that invests primarily in employer securities. If an S- or C-Corporation owner doesn鈥檛 have an heir, co-owner, or outside buyer interested in taking over the business, or wants the business to end up being employee-owned, an ESOP may be an effective vehicle for creating a source of funds to purchase the owners鈥 interest in the company. Not only does the ESOP create a buyer for the business owner鈥檚 stock but a C-Corporation business owner (but not an S-Corporation owner) can use the sale proceeds to purchase 鈥渜ualified replacement property鈥 [IRC Sec. 1042(c)(4)(A)] and defer taxation on the sale of the stock to the ESOP. This allows a C-Corporation owner to sell part or all of the business to the ESOP without immediate taxation and use the proceeds to diversify assets through the purchase of qualified securities. Consult with your independent legal and tax advisors for additional details.

How can I protect my business from estate taxes?

Typically, there are two ways to plan. One is the use of life insurance within an irrevocable life insurance trust (ILIT) and the other is the use of business assets to pay life insurance premiums and hold the life insurance as a business-owned asset used in a buy-sell arrangement (entity redemption). The determination is generally based on your estate tax liability and other tax considerations. Consult with your independent legal and tax advisors for additional details.

Explore How You Can Reach More Life Goals

Retirement income

Being happily retired looks different for everybody. Maybe you want steady retirement income that lasts or supplemental income to help you meet the unexpected in life.

LEARN MORE

Plan now, so you鈥檙e ready later

For you, family is one of the most important things in your life. You take care of them. They take care of you. Making sure that they鈥檒l always be taken care of, no matter what happens.

LEARN MORE

Save Enough for My Future

You don鈥檛 know what the future has planned for you, but you want to be prepared for the unexpected and be able to achieve your goals.

LEARN MORE
keyboard_arrow_down

Retirement income

Being happily retired looks different for everybody. Maybe you want steady retirement income that lasts or supplemental income to help you meet the unexpected in life.

LEARN MORE

Plan now, so you鈥檙e ready later

For you, family is one of the most important things in your life. You take care of them. They take care of you. Making sure that they鈥檒l always be taken care of, no matter what happens.

LEARN MORE

Save Enough for My Future

You don鈥檛 know what the future has planned for you, but you want to be prepared for the unexpected and be able to achieve your goals.

LEARN MORE

Life insurance is subject to underwriting and approval of the application and will incur monthly policy charges.

In order to sell life insurance, a financial professional must be a properly licensed and appointed life insurance producer.

The primary reason for life insurance is death benefit protection.

精东影业, its affiliates, their distributors and respective representatives do not provide tax, accounting or legal advice. Any taxpayer should seek advice based on the taxpayer鈥檚 particular circumstances from an independent tax advisor or attorney.

精东影业 refers to 精东影业 and its affiliates, including 精东影业 & Annuity Company. Insurance products are issued by 精东影业 in all states except New York and in New York by 精东影业 & Annuity Company. Product/material availability and features may vary by state. Each insurance company is solely responsible for the financial obligations accruing under the products it issues.

精东影业's Home Office is located in Newport Beach, CA.

PL1.4B

This website or its third-party tools use cookies, which are necessary to its functioning and are required to achieve the purposes illustrated in our聽online privacy policy.