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Business Succession Planning
A business succession plan can help you confirm that your business continues successfully and your financial goals are met.
As a business owner, you have specialized financial planning requirements. You need a wealth management strategy that will not only help secure your family's financial future, but also answer the question of what will happen to your business when you choose to take a less active role.
What can a business succession plan do for me?
Whether you choose to transfer out of your current role or leave the business altogether, a business succession plan can help determine the orderly transfer of ownership - to your partners, other family members or your heirs.
How Does Succession Planning Work?
Our succession planning professionals have deep experience in valuing companies and structuring successions that take into account management and financial realities. If you would like your business to remain in your family, we can work with your estate planning professionals to pass on ownership interests in a fair and tax-advantaged way that is in keeping with your wishes.
We will work with you and your advisors as you structure buy-sell agreements that outline the terms of transfer and we may suggest life insurance options that may determine liquidity for share buyouts. In the event of your unexpected death, a succession plan can preclude a forced sale and help so that your business continues to operate with minimal disruption the way you intended.
How Can I Exit My Business And Realize Its Value While I'm Still Around To Reap The Rewards?
Your business succession plan may call for the outright sale of your business. Your PNC advisor can work with PNC Capital Markets, LLC to offer you the knowledge you need to realize your company's full value. Our team can help you value your company, identify potential buyers, coordinate the bidding process and take the deal to closing. Once you receive the proceeds, your PNC advisor can help you with financial solutions that can potentially minimize taxes and help you preserve your wealth.
Important Legal Disclosures and Information
The PNC Financial Services Group, Inc. (“PNC”) uses the marketing name PNC Wealth Management® to provide investment and wealth management, fiduciary services, FDIC-insured banking products and services, and lending of funds through its subsidiary, PNC Bank, National Association (“PNC Bank”), which is a Member FDIC, and to provide specific fiduciary and agency services through its subsidiary, PNC Delaware Trust Company or PNC Ohio Trust Company. Securities products, brokerage services, and managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and member of FINRA and SIPC. Insurance products may be provided through PNC Insurance Services, LLC, a licensed insurance agency affiliate of PNC, or through licensed insurance agencies that are not affiliated with PNC; in either case a licensed insurance affiliate may receive compensation if you choose to purchase insurance through these programs. A decision to purchase insurance will not affect the cost or availability of other products or services from PNC or its affiliates. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”). Investment management and related products and services provided to a “municipal entity” or “obligated person” regarding “proceeds of municipal securities” (as such terms are defined in the Act) will be provided by PNC Capital Advisors, LLC, a wholly-owned subsidiary of PNC Bank and SEC registered investment adviser.
“PNC Wealth Management” and “PNC Wealth Insight” are registered service marks of The PNC Financial Services Group, Inc.
Important Information about Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we are required by Federal law to ask for your name, street address, date of birth (for natural persons) and other information as required to identify you. This may include a request or requests for confirmatory information such as presentation of your driver’s license and/or other document(s).
Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.
Insurance: Not FDIC Insured. No Bank or Federal Government Guarantee. Not a Deposit. May Lose Value.
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