Summary: suWccessful businesses is coming to an end. As boomers enter their 60s, many are seeking to liquidate and retire. A recent New York Times article highlights this trend, referencing how bankers and brokers say there’s a significant increase in sales from business owners in their 60s and 70s who are ready to turn their creations over to a new generation of owners.
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The right strategy for each owner depends on many factors. There’s no one-size-fits-all approach. It’s critical that the owner set aside enough time to work with his or her team of advisors, lawyers, accountants, etc., to choose the right path and plan accordingly."
Drew Horwitz, Senior Wealth Planner in the Business Owner Advisory Group, Wilmington Trust.. |
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