Ensuring steady cash flowFor a growing business, cash is a lot like oxygen — you can’t survive without it for very long. Ensuring your cash flow keeps, well, flowing is essential once your business has hit critical mass. You have a lot of people depending on you: employees, vendors, partners. Personal Protection and Business Overhead Protection can be key to making sure you have a steady flow of cash when the unexpected happens.
The importance of a buy-sell agreementThe concept of a buy-sell agreement is simple. The execution of it, however, is anything but. Triggers, terms, valuation formulas. It takes a knowledgeable professional to get it all right for you. Regardless of the situation, your Guardian Financial Representative can work with you to put your ideas into action.
• The buy-sell obligation in the agreement, upon death, is typically funded with a life insurance policy, providing the same protection in the event you or your partner dies
Creating your vision for successionYou may see yourself at the helm of your business 40 years from now. But life may have other plans for you. So you should be prepared in case you have to leave your company earlier than expected. That’s precisely why it's important to define your vision for succession now. Well executed succession plans can take years to execute, so starting those discussions as soon as you're ready is important. As an owner, you may not want to think about your “exit strategy” – if you do decide to exit, you want it to be on your terms and there are many financial instruments that can make that transition a more seamless event. Life insurance or disability income insurance can help provide the funding necessary for a smooth succession should something unexpected happen. Or you can hand ownership over to the very people who help your company thrive through an employee benefits plan. Whichever way you decide to go, starting this discussion with a qualified professional can open your eyes to your options and to new possibilities.