Poised for Exit
Welcome to the Poised for Exit podcast! Poised for Exit is an under 30-minute strategic planning guidance podcast for busy small business owners. Each week you’ll hear certified exit planning advisor, Julie Keyes, talk with a range of entrepreneurs and professionals about preparing your business for a future transition. Guests at every stage of company ownership will share their personal stories and lessons learned about topics such as the anatomy of the exit planning process, developing a growth strategy, how to sell on your terms, exit planning for women small business owners, handling business diversity, and how to sell a family business. Whether you’re planning an exit in the near future or not, this show will provide you with the same action-oriented content that Julie utilizes while consulting with Keyestrategies clients. Building an exit strategy can be overwhelming, especially with all the decisions and details you have to consider. “Poised for Exit” will simplify the process and help you unwrap the unknowns, giving you more confidence in your planning process. Previous episodes are available for download, so if you are new to our show, you can listen to them in any order that suits you. Join us each week for timely, relevant content that will surely impact your business exit outcome! Subscribe to our newsletter below to receive your weekly episode link and stay updated on new strategic planning content. Find “Poised for Exit” on Spotify, Apple Podcasts, Google Play, iHeart Radio, Amazon Music, and others. Thank you to our Sponsors: Sunbelt Business Advisers and JAK CPA's. A special note of thanks to Tyler Keyes who produced the music for the “Poised for Exit” show.
Poised for Exit
Funny Tales and Effective Tactics from an Estate Planner!
Funny Tales and Effective Tactics from an Estate Planner!
We had the honor today of hosting Christopher Burns, partner with Henson and Efron Law Firm. Christopher's practice primarily focuses on Estate and Tax Planning, and he advises and counsels owners of privately held companies on how best to reduce their tax liability and increase their peace of mind by orchestrating comprehensive estate planning techniques and strategies and facilitating tough conversations between owners and family members.
Now that was a mouthful, so where do we start? Christopher says it all starts with a plan. Whether you currently have a plan that needs updating, or you've never had a plan, documenting your wishes and making them known alleviates more problems and conflict than you can imagine, not to mention the money saved in unnecessary taxes. If so much is at stake, then why do we resist doing it? Do you know anyone who avoids talking about death like the plague? If you have ever been involved in an estate situation where no planning had been done, you know how arduous, painful, time wasting and contentious these situations can be. Enough said; if I just described something that resonates with you, then let's vow to check it off our 2024 list as soon as possible.
There are many strategies that owners can implement to avoid long and expensive probate, and paying more to the IRS than necessary. Christopher says that what works for one owner, doesn't always work for another, so it's essential that you begin the planning process well in advance of any liquidity event, especially if you live in a state like MN and plan to move your residence to a tax friendly state. As Christopher says, it's like Hotel California in MN; you can check out but it's very difficult to leave and the look back on tax saving strategies starts with a minimum of three years out.
The knowledge, expertise and counsel Christopher imparts and embodies are invaluable!
Contact Christopher here and Julie here
We shared some pretty good laughs around such a dry topic! Listen to the episode here
Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor