Once I remove myself and my equity, will there still be a business?
You have put countless hours and dollars into your company over the years, and it is now successful and a source of tremendous pride.  But it's time to step back and enjoy retirement or move on to something new.  The problem is that the success of the company has depended on you as an individual and your customers know it.  And your retirement savings are tied up in inventory, buildings, and equipment.  You need to have a comprehensive succession plan in place to ensure that you receive a fair price for your business, and so it can continue to deliver to your valued clients.  JV regularly works with specialized tax advisors to ensure that your values and best interests are kept front and center while your exit strategy is planned and implemented.

It's a family business.  My children will just take over.
Although that may seem like a straightforward succession plan, there are still significant tax and financial considerations when passing along your farm or business to your children.  You will want to be sure that they are ready to handle the reins, and that you don't miss out on any capital gain exemptions in the transition.  It may also be the case that not all of your children wish to have an active role in the business going forward, and you want to ensure fairness.  If you think you may need some professional assistance, lean on the experience and expertise of the JV team and our strong network of local specialists.

I'll still be around for a couple of years.  What's the rush?
Leaving your business is a complex and extensive process----from both a legal and a financial perspective.  Valuing your business. finding a suitable buyer, and preparing your company and your customers for your departure all require a significant amoung of time and energy.  In order to minimize the stress on yourself and your business, it's best to start thinking things through and laying the groundwork at least two to five years prior to your exit.  All of this while maintaining an active business should probably involve some professional consultation.