A family business is one of the most difficult and complex wealth transfers families must navigate successfully to avoid conflicts and strained relationships. The family business and the entire family should have a “Business Succession Plan” that increases the probability that the family business and the family will realize the greatest value and successfully grow their wealth for 100 years.

A business owner should plan the transition years before it takes place. Instead, in pursuit of some form of exit or transition, countless entrepreneurs delay the process and forfeit precious time, runway, and financial resources, most of which are irrecoverable, which often lead to undesirable outcomes.

FWL Business Optimization Suite – From Success to Legacy

Our Comprehensive business, estate, and tax optimization suite guides business owners and families through all phases of transition, increasing clarity, maximizing value, preparing families, and minimizing taxes through multiple generations.

FWL Business Optimization Suite

Business Optimization Review

• Complete the FWL Valuation Gap Analysis   Click this link to complete a short survey to produce your report on issues affecting the value of your business.
• Executive Summary of your Operating Agreement will be reviewed if available, to identify any owner and/or transfer risks.

Estate Review: Executive Summary of estate documents to verify that current documents are structured the way you intended and are aligned with the succession goals for the business and family. This review includes:

• Joint and Individual Revocable Trusts
• Last Wills & Testaments/Pour-Over Wills
• Irrevocable Trusts and Business Entities such as C-Corp, S-Corp, LLCs, and Partnerships
• Advanced Healthcare Directives
• Financial Powers of Attorney

Personal Tax Review: Current tax returns are reviewed for areas of concern and potential tax savings to include strategies that tie back to the business.

FWL Business Optimization Suite – IMPLEMENTATION

Business Optimization:

• FWL Business Insights Report (BIR):
  • In-depth review of the business, along with 21 steps to increase value through several key financial and non-financial areas.
  • Personal Wealth Gap Analysis: Will the sale of my business provide sufficient capital to sustainably fund personal goals, such as retirement income, lifestyle spending, legacy planning, philanthropy, and risk tolerance over time?
• Ongoing Optimization: Based on the findings of the review process, a plan will be designed to maximize the value of the business and its transition, and an action plan drafted for sequencing and timing each step of implementation.
• Family Involvement in the Family Business: Should the business transition to the next generation and, if so, how will ownership be determined and what roles will each family member play?

Estate Optimization: Coordinate design and implementation with legal & other tax professionals.

• Estate Plan Design
• Estate Plan Implementation
• Personal Financial Plan, including a wealth gap analysis that considers the exit plan for the business and its impact on the family’s wealth and family relationships.

Tax Optimization:

• Review strategies for optimizing income taxes utilizing a proper design, structures, and business-related strategies.
• Coordinate design and implementation of the plan with legal, accounting, and other tax professionals to minimize income, capital gains, and estate and gift taxes.