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In speaking with business owners their is one key insight I share. Incorporating business planning as a daily part of running the business. What do I mean by business planning? Focusing not only on the day to day operations of the business but also building a plan around maximizing the Enterprise Value of the business. It’s an area of focus that all owners should focus on regardless if they are thinking of selling the business or not. The one thing that has been consistent  is that as an owner you never know when someone is going to knock on your door and ask if your business is for sale. I will say that when I speak to an owner that is emphatic about not selling the company, it is always interesting to see how that owner responds when a real potential buyer knocks. Being prepared for that scenario and others that may force the sale of your business is important. As an owner you may not have plans to sell your business but you...

The COVID-19 pandemic combined with the current economic uncertainty may leave many families and individuals with questions and concerns about their estate and financial planning.  The Wealth Preservation team at Porzio has compiled a list of some frequent questions to assist during this time. 

Can I get copies of my estate documents? 

Yes. If you are a Porzio client and don’t have copies of your documents, we retain scanned copies of everything and can securely send them to you or your family.  Please feel free to email or call us for assistance. 

What if my guardian is out of state and unable to get to my kids should the need arise?

New Jersey and New York allow for a “standby guardian” to be named for this specific circumstance.  This is a temporary guardian and can be a local friend.  We can prepare a Designation of Standby Guardian for you and the guardian to sign remotely.

What if I have questions on my documents – or...

A number of years ago, John and Ann Williams sold their successful family-owned business and established a single family office to invest the sales proceeds and support their family’s investment, reporting, tax and other needs. They had professionalized the office with strategic investments in staff, including a senior level COO and CFO who reported directly to John. Over the years, the office took on more responsibility, not only for John and Ann’s affairs, but for those of their children and their children’s families as well.

Now that John and Ann are getting ready to retire

they ask for advice on succession planning for leadership of the family office. As a significant portion of the Williams’ family wealth is managed by their single family office, this decision takes on great importance for their family. This article will cover three important considerations to prepare them for this all-important transition.

Selecting the successor

Ideally,...

When selecting a wealth advisor there are several components of the engagement you will want to familiarize yourself with to ensure you have the right wealth advisor
and plan in place. Before discussing the appropriate engagement, it is important to know that on average, 80% of business owners do not have a financial plan. This lack
of financial planning can have a dramatic impact on your transactions net proceeds (what you keep from the transaction after fees and taxes) and the overall result. The
first question you will want to ask yourself is what type of advisor do I want to work with? Finding the right wealth advisor can be very difficult if you don’t have a clear
understanding of what is needed. Due to the change in your financial situation, new elements will add complexity to identifying the right wealth advisor.

Click below to request our whitepaper on identifying the right wealth manager for you. 

Contact us to discuss your preparedness plan: ...