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  3. Continuation Outline

Continuation Outline

"If it could go the way I want it to, how should it go?" 

Questions-Which Apply?

 

Management Decisions

  • Who takes over as EO, Managing Director?
  • Should there be incentives to Retain Key Employees?
  • Should there be an Interim Board of Directors? Who?
  • How does the company complete Work In Progress?
  • Do you want Severance, Transition Pay for Employees?

 

Financial Decisions

  • Who assumes or pays the Personal Debt Guarantee?
  • When do you pass on critical Bank Relationships?
  • Who needs Key Person Life Insurance?
  • Who takes Control of Receivables, Payables?
  • Who maintains Patient, Client Files?


Direction of company - Strategic Plan

  • Is it best to Maintain Under Family Management?
  • Is it best to Maintain Under Employee Management?
  • Should the family seek an Outside, Qualified Buyer?
  • Can it be Preserved for Young or Non-involved Children?
  • Is it best to Wind Up Business, Liquidate? When?

 

Disposition of company ownership

  • Does it pass by Gift to Family Members? Who pays the tax?
  • Should it be Sold to Involved Family Members? Do they have the money?
  • Should it be Sold to a Key Employee Group? Do they have the money?
  • Is a Reciprocal Buyout with a similar company, practitioner appropriate?

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  •  Colorado Springs
    1216 W Colorado Avenue, Suite 100, Colorado Springs, CO 80904
  •  San Diego
    600 West Broadway, Suite 700, San Diego, CA 92101
  •   (800) 790-8320 / (719) 471-8331 (fax)
  •   Don@Passitoninc.com
  •   Misty@Passitoninc.com

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