Business Owners
Heritage Consulting Group, Inc. understands the dilemma many business-owners are in. We've spelled out two of the most common problems below:
1. No Retirement Plan Independent of the Business
Many times, business owners build most of their wealth
within their businesses, and at the end of their careers, need to sell their
business in order to capture this wealth. Our programs offer business
owners, medical practitioners and legal professionals with a means to create
lasting personal wealth using the power and strength of their business.
The Entaire program suite enables businesses to access significantly
increased buying power through leverage to purchase carefully selected
equity-indexed, principal protected products for the direct benefit of
business owners or their designated beneficiaries. Entaire's programs
provide a powerful funding source for future wealth creation that is:
- Tax Efficient
- Stable
- Cost Effective
- Selective
Whether the business is largely cash-based or reliant
upon accounts receivable for operations, Entaire has a program appropriately
tailored to meet your needs.
Cash-based businesses - such as retail establishments, restaurants and
wholesalers - will benefit most from the VALUE ACCESS™
Program. This Program provides a mechanism to fund the financial future of
the owners or their designated beneficiaries.
Business that rely largely on Accounts Receivable – such as healthcare
practices, legal practices and professional service providers – will benefit
most from the ENSHIELD® Program. These businesses can use
accounts receivable as a leveraging mechanism to meet future financial goals
for the owner(s) or their designated beneficiaries and providing a potential
level of asset protection for their accounts receivable.
To read the following articles just click on their links:
| Plan Well, Live Well | From Pocket A to Pocket B |
| The Cost of Waiting | Other People’s Money |
| Overview of Value Access | Enshield A/R |
2. No Exit Strategy
Many people think that having a plan to leave a business entity to heirs is their exit strategy. Unfortunately, they are no longer here when the heirs find out that there is a price to pay...in the form of estate taxes. Or perhaps they have a buy-sell in place, but now question whether or not their partners have the assets to pay the owner's spouse upon his death. In many cases, businesses are forced to liquidate all or part of their holdings to raise cash to pay taxes. Life insurance is often presented as a solution, but many owners balk at the premium costs. A strategy involving premium financing may make the difference between realizing and not realizing the business owner's wishes.
When most people are told they need 3M to pay estate taxes and that it will cost them hundreds of thousands of dollars per year in premiums, one if not all of the following:- Say, "My family will deal with it."
- Laugh, usually out of disbelief.
- Throw you out of the room!
If you would like to see if either of these strategies could help you realize your goals for the future, give us a call at 216-472-1297.
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