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New Jersey Life & Casualty Associates, LLC

  

  • About Us
    • Overview
    • Our Story
    • Our Team
  • Insurance Planning
    • Life Settlements
    • The Critical Link
    • Tailoring the Fit
    • Navigating Policy Pricing
    • Bridging Policy Expectations with Results
    • Case Study
  • Estate Planning
    • Overview
  • Business Succession
    • Advantages
    • Getting Started
    • Key Steps
  • Executive Compensation
    • Competing for Top Talent
    • Getting Started
    • Does Your Plan Recruit, Retain, Reward?
    • Planning That Performs As Intended
    • Other Compensation Strategies
  • Retirement Planning
    • Overview
    • Accumulating Wealth for Retirement
    • Managing Wealth In Retirement
    • Employee Benefit Plans
 

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  1. Home
  2. Business Succession
  3. Key Steps

Key Steps

To effectively manage the complexities of succession planning, we follow a proven process designed to help you ultimately reach your destination by taking it one step at a time.

  1. Identify and review priorities
  2. Establish goals and objectives
  3. Identify a buyer or successor
  4. Develop the succession plan
  5. Integrate personal planning goals into the plan
  6. Establish transfer methods (e.g. retirement income streams, buy-sell agreement, deferred compensation, trusts, ESOP, Family Limited Partnerships, etc.)
  7. Implementation
  8. Review and monitor the plan

During each step of the process, we work closely with you to:

  • Create a dialogue and process for you to begin to address the issues of succession
  • Coordinate planning with your other advisors
  • Establish goals and timelines
  • Plan for your retirement and family’s cash flow needs
  • Plan for the tax-efficient allocation of assets if your choice is to sell the company
  • Select appropriate wealth transfer strategies to minimize transfer taxes
  • Implement and fund the plan
  • Communicate and update the plan periodically
Connect with us 
354 Eisenhower Parkway
Suite 2700, Livingston, NJ 07039

973.535.0955 |  info@njlc.com
   

Securities offered through ValMark Securities, Inc., Member FINRA, SIPC. Advisory Services offered through ValMark Advisers, Inc., an SEC Registered Investment Advisor. 130 Springside Dr., Ste. 300, Akron, OH 44333. 800.765.5201. NJL&C is a separate entity from ValMark Securities, Inc. and ValMark Advisers, Inc.

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