These are the slides from a webinar that was hosted by Grant Thornton and Private Wealth. The presenters were Carlos Ferreira, Russ Alan Prince, and Andy Tarquinio. Their contact information is on the second to last slide

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Getting Rich
How Business Owners Can Maximize Their
Personal Wealth When They Sell Their Business
September 17th | 2:00-3:30 p.m. EDT
Carlos Ferreira
Transaction Advisory Services Practice Leader - Metro New York Cluster
Grant Thornton LLP
Russ Alan Prince
President
R.A. Prince and Associates, Inc.
Andy Tarquinio
Tax Partner and Melville Office Tax Leader
Grant Thornton LLP
Presented by 2

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Three Actions that Enable Business Owners to
Maximize Personal Wealth on the Sale of Their
Businesses
Pre-sale planning
• Corporate (Business) Preparation
• Business and Family Wealth Tax Planning
During the sales process
• Skilled Negotiations
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Actions that produce greater family wealth
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Research Study
Evaluate the extent to which business owners are engaging in
best practices when they sell their companies
271 business owners were surveyed
Criteria:
• All were privately owned companies
• All were senior executives
• All had a financial stake in the sale of the company
• All would likely sell their companies some time in
the future
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Segments
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Age of the senior executive
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Timing of sale
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Business types
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Average annual sales
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Goals When Selling the Business
• Getting the best price
• Desire to become wealthier
• Making sure loved ones are financially cared for
• Legally minimizing taxes owed on the sale
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Getting the best price
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Desire to become wealthier
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Financial care of loved ones
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Legally minimizing tax owed on the sale
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Best Practices
Preparing the Business for Sale
Opportunities to increase the selling price of the
business
• Up-to-date valuation
• Succession plan
• Incentive compensation plan
• Financial statements that effectively communicate
the value of the company
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Presale corporate actions
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Best Practices
Maximizing value through tax planning
Opportunities to increase the net after-tax proceeds on the sale of the
business
• Obtain an understanding of the relative importance that tax structure
plays in conveying and maximizing value during the sales process
• Organizing the company's legal affairs in order to support an asset sale
• Pre-sale restructuring to separate unwanted assets not used in the
business or retained for other purposes
• Pre-sale estate and gift tax planning
• Implementation of incentive compensation plans to reward and retain
key employees
• Maximizing the value of tax attributes and transaction related expenses
incurred in connection with the sale
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Best Practices
Maximizing value through tax planning
Opportunities to increase the monies to the family
from the sale of the business
• Using partnerships and trusts to lower estate taxes
• Using charitable trusts to lower the taxes owed on
the sale of the business
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Using partnerships or trusts to lower estate taxes on
the sale of the business
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Using charitable trusts or corporate structures to
lower taxes on the sale of the business
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Best Practices
Negotiating
Opportunities to get a preferential deal when selling
the business
• Negotiating to win!
• Understand the motivations and limitations of the
people on the other side of the table
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A win-win negotiation strategy is the best approach
to selling a business
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It's critical to develop a deep understanding of the
people on the other side of the table when selling a
company
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Where Business Owners Turn to For Advice
Critical to being able to provide business owners
your services is reaching them
Referrals tend to be exceedingly important
• Centers of influence
• Other business owners
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Sources of advice
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Key Implications
• Business owners generally want to maximize the personal
wealth from the sale of their companies
• There are 3 ways they (their families) better accomplish
this:
– Corporate preparation
– Business and Family Wealth Tax Planning
– Effective negotiations
• While some business owners are taking appropriate
actions, many are not.
– Significant opportunities for these business owners to
take action and increase their family’s wealth from the
sale of the company
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Presenters
Carlos Ferreira
Transaction Advisory Services Practice Leader - Metro New York Cluster
Grant Thornton LLP
T 212-542 9825
M 973 641 6171
Email: carlos.gerreira@us.gt.com
Russ Alan Prince
President
R.A. Prince and Associates, Inc.
T 203-938-5557
Email: princeasoc@aol.com
Andy Tarquinio
Tax Partner and Melville Office Tax Leader
Grant Thornton LLP
T 212-542-9720
M 631-836-1364
Email: andy.tarquinio@us.gt.com
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CE Sponsor Name: Financial Advisor Magazine
Customer ID: 113555
Course Title: Getting Rich: How Business Owners Can Maximize Their Personal Wealth
When They Sell Their Business
Course ID: 13FAM014
This is a live event only.
No recording of this presentation will be available
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CE Credits
CIMA® CE Credit
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