Barrington Wealth Partners Advisory Services Inc. | Business Succession & Estate Planning

By: Barrington Wealth  09-12-2011

Our experience has led us to believe that your Business Succession and Estate Plan is as unique as your finger print.  To help you build your complete Business Succession and Estate Plan, our process is designed to work with you and your professional advisory team to:

  • Understand your current situation
  • Establish and clarify your goals
  • Identify opportunities and concerns
  • Evaluate and choose the appropriate solutions
  • Implement the plan
  • Monitor the plan over time

Working with you and your other professional advisors, we can ensure that your "plan" is tax effective, cost effective and has the greatest opportunity for success.  We help you choose the right tools to make your plan work.

Through our planning process, your Business Succession and Estate Plan will be designed so that, the right people will get, the right assets, at the right time, for the right price.

 Why Succession Planning?

  • 8 out of 10 businesses are owner/manager businesses.
  • Representing about 50% of the GNP
  • Often more than half of small business owners' assets are in their business.
  • Older "baby boomers" own a disproportionate number of small businesses.
  • 1/3 of business owners plan to exit in the next 5 years.
  • 2/3 of business owners plan to exit in the next 10 years.
  • Only 10% of owners have a formal written succession plan.
  • 38% have an informal (unwritten) plan.
  • The remaining 52% have no plans at all.

Family Business Add Another Layer of Complexity

65% of business owners have not even discussed succession planning with their kids

70% of family businesses never make it to the second generation

90% never make it to the third generation

The Benefits of Creating a Business Succession and Estate Plan

  • Peace of mind (no family conflict)
  • Smooth transfer of assets on death.
  • Reduce taxes.
  • Increase value of business.
  • Positive impact on business long-term viability.
  • Increase value of estate.
  • Provides certainty of outcome.

Please Watch The Promotion To Our Succession Planning Video.

Other products and services from Barrington Wealth


Barrington Wealth Partners Advisory Services Inc. | Disability Income Insurance

Disability health insurance provides you with income when you lose your income due to a disability, accident or sickness. The factor that could be protecting your financial stability in the future is disability health insurance. Protect your income with a custom designed disability health insurance policy. Your future income is your greatest asset.


Barrington Wealth Partners Advisory Services Inc. | Critical Illness Insurance

Before we examine the various Critical Illness policies, it would be prudent to examine statistical data that enables us to see why this coverage is crucial when it comes to protecting your financial future. If the insured dies while the policy in effect and before they qualify to receive the lump sum payment, all the premium payments on regular rated policies can be returned to the insured's beneficiary.


Barrington Wealth Partners Advisory Services Inc. | Insurance Audit Service

Own Occupation" and "Any Occupation"definitions are a world apart under a disability contract, which one are you covered under. Have you made provisions to protect you and your family from costs created by the need for Long Term Care. Do not leave your insurance planning to chance, call us to receive independent qualified advice. Does your disability coverage give you protection you need or are you playing Russian Roulette.


Barrington Wealth Partners Advisory Services Inc. | Tax and Estate Planning

Our advisors utilize our consultant’s specialized expertise, particularly in more complex tax and estate situations, to ensure that your plan has taken all the applicable factors into consideration. We believe that strategizing on this aspect of financial planning is so critical to your success that we have our own objective Tax & Estate Planning Consultant on staff.


Barrington Wealth Partners Advisory Services Inc. | Risk Management

The core of our business is to provide industry-leading, innovative, customer-focused risk management and insurance solutions. This gives us the ability to shop the market to make sure our clients always get the right product.


Barrington Wealth Partners Advisory Services Inc. | Life Insurance

Life Insurance pays a tax-free lump sum upon death to named beneficiaries. Life Insurance provides safety and security for ones we love. On a personal level it is commonly used to. Make a tax effective gift to charity. Pay off mortgage and debts.


Barrington Wealth Partners Advisory Services Inc. | Financial Planning

The development of a comprehensive financial plan is an ongoing process that requires review and monitoring to ensure that strategies remain consistent with your goals, needs, and priorities. Creating a true “Comprehensive Financial Plan” for our clients is the central focus of Barrington Wealth Partners. Identify and evaluate the financial planning strategies and present the financial planning recommendations.