Financial stability is of critical importance to these individuals as it directly impacts their ability to earn a living, and to maintain a sustainable livelihood for themselves and those they employ.
As such we openly address the challenges of succession planning with all our business owner clients, and the concept of the business continuing in their absence whether planned or immediate. This critical planning decision impacts not only the business owner’s company and employees, but their family and personal estate as well. The succession decision will be one of the most important that a business owner makes in their lifetime.
Yet we acknowledge that for most succession planning is more than a financial decision, there is an emotional component to this topic that can deter an owner from addressing it in a meaningful way. We equate it as similar to the challenge that often arises for married couples when they embark on creating a will.
At Northstar Wealth Partners we are sensitive to business owners’ needs, and how the timing a succession discussion can be as critical as the discussion itself. Still we remain objective, and focused on our clients’ best interest, as a result we will never let indecision get in the way of the necessary steps to move you and your business forward.