We can help you position your dealership in the best possible way to sell and ensure its ongoing operational success. Can you afford to retire if you sell your dealership? Should you transfer your dealership to a family member? If so, can you best minimize estate taxes?
Brady Ware’s Dealership Advisors help you navigate these challenges and develop a plan for dealership succession. Our plan will address ownership succession, management succession, and leadership development, while meeting your personal retirement goals.
Succession is a process not just a plan. We work side by side with you, your family, and your management team from beginning to completion. The end result is a comprehensive succession process that meets your financial, dealership, and personal goals.
Identify your goals as the business owner, including your post-retirement cash needs
Prioritize those goals to ensure they are addressed as needed
Identify and prepare a management successor
Identify an ownership successor, such as a friendly competitor, a family member, a private equity firm, or a key employee
Identify the best method for transferring ownership, with an accurate business valuation in mind
Develop a plan for ownership and management succession, with milestones and measurements built in
Integrate your succession plan with your estate plans
Develop an implementation strategy to ensure a smooth transition
Design a contingency plan
Monitor and adjust the plan as needed
Transferring your wealth can be a sensitive issue, and it can become frustrating if you receive conflicting advice from family, attorneys, and business advisors.
Brady Ware’s Dealership Advisors understand the complex nature of estate planning, and we serve as your estate planning coordinator to make it manageable. We work with your investment manager, insurance agent, attorney, and when needed, family members to develop an integrated estate plan that minimizes your estate taxes while providing for your beneficiaries in the way you desire.
Establish family-limited partnerships that maximize control and flexibility while minimizing estate taxation
Synchronize your estate plans with your business succession plans
Set up gifting programs and charitable gifting strategies
Provide necessary cash flow during your lifetime and that of your spouse
Ensure equitable disposition of family-owned businesses, with an accurate business valuation in mind
Ensure proper use and distribution of life insurance and retirement plans