Do you have a business succession strategy?

   If you own a business, you’ve got plenty to think about. 
   But at some point, you’ll need to leave your business behind. 
   When that day arrives, you’ll want to be prepared with a business succession plan.
   You can leave your business to your children, but if you transfer it over time, you can gain some assurance they will be able to manage the business on their own.
   As an alternative, you could use a buy-sell arrangement to transfer the business. 
   With this arrangement, you can generally determine when, to whom, and at what price you sell.
   You have other options, too. 
   For example, you may be able to buy a private annuity, which allows you to transfer the business to family members, or someone else, who will make payments to you for the rest of your life.
   These and other techniques can be complex, so, before deciding on one, you may want to consult with your tax, legal and financial advisors. 
   By taking your time and getting the professional help you need, you can make a successful succession choice.
   This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.

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