Business Planning

Overview

Transition the Operation on Your Terms.

Every farm, every ag-retail shop, every trucking outfit, every family-owned business faces two big risks. The owner eventually steps back. A key employee or partner is lost along the way. Without a plan for either event, the business pays more tax, sells for less, or falls apart in the hands of the heirs.

True Legacy Inc specializes in business planning for the transition at retirement and the protection of the operation from the loss of a critical person. We work with owners who want to be intentional about who runs the business next, who owns it, and how the wealth inside it is moved out.

"A proper transition plan means the next generation inherits a going concern, not a fire sale."

Whether you are passing the farm to a son or daughter, selling to a long-time manager, or cashing out to a strategic buyer, we build the financial architecture around your intent. Buy-sell agreements, key-person coverage, deferred compensation, and executive bonus plans all sit inside a single coordinated plan.

What We Build

Six Structures Every Ag & Family Business Needs

Buy-Sell Agreements

A funded buy-sell keeps the business out of probate and out of the wrong hands. If a partner dies, becomes disabled, or exits, the remaining owners buy the interest at a pre-agreed price with pre-funded dollars.

Key-Person Insurance

Losing a herd manager, a chief operator, or the one employee who knows every contract will sink a season of profit. Key-person coverage gives the business the cash to survive the gap and hire a replacement.

Business Succession Planning

Naming the next owner is one step. Structuring the sale, the installment note, the gift of shares, and the ongoing role of the retiring generation is the real work. We put it all in writing.

Deferred Compensation

Non-qualified deferred comp rewards the son, daughter, or manager who stays with the business for the long haul, creating a retention tool and a retirement benefit at the same time.

Executive Bonus Plans

A simple, tax-deductible way for the business to fund life insurance or retirement benefits for the owner and top talent without the paperwork of a qualified plan.

Group Benefits

Group life, disability, and supplemental benefits attract and retain the workforce you need. For family businesses, these programs also take care of the relatives and long-time hands inside the operation.

Why It Matters

A Business Without a Plan Sells for Less.

Study after study shows owners who fail to plan for transition pay higher taxes, sell the business for less than expected, and leave family disagreements behind them. For farm and ag operations, the land often gets carved up and the equipment auctioned off.

You built this business through thirty, forty, sometimes fifty years of work. The exit deserves the same discipline the entry required.

Our promise is simple. We coordinate with your accountant, your attorney, and your banker. We design the buy-sell, the key-person coverage, and the succession plan around your family and your numbers. Nothing is off the shelf.

Disclosures

Financial Strategies Group, LLC is not a legal or tax advisor. This communication may contain federal tax information which is not a covered opinion as defined by Circular 230 and is limited to the federal tax issues addressed herein. Additional issues may exist that affect the federal tax treatment of the transaction. The communication was not intended or written to be used, and cannot be used, or relied on, by the taxpayer, to avoid federal tax penalties. Please consult with your legal, accounting, or other tax advisor prior to taking any action. Securities offered through The Leaders Group, Inc. Member FINRA/SIPC 26 W. Dry Creek Circle, Suite 575, Littleton, CO 80120, 303-797-9080. FSG is not affiliated with The Leaders Group, Inc. BrokerCheck • Conflicts & Disclosures • Client Relationship Summary