Post-Sale Financial Planning for Entrepreneurs

In this episode of Planning Reimagined, Celeste is joined by Judy Barton and Catherine Sharp to discuss the intricacies of post-sale wealth management for business owners. Judy highlights the importance of shifting the conversation from budgeting to cash flow needs and wealth longevity, emphasizing investment structure, efficient tax management, asset protection, and more. They also discuss valuable tax strategies and estate planning insights, underlining the necessity of regular estate plan re-evaluation and proactive financial education across generations.

They also talk about the importance of the emotional impact of business sales, financial goal prioritization, and the role of professional advisors in shaping a robust financial future. From leveraging balance sheets to utilizing Opportunity Zones and trusts, you'll learn some of the most important areas where you may be leaving massive money on the table.

To connect with Judy, visit: https://www.bny.com/corporate/global/en.html

To connect with Katherine, visit: https://www.forvismazars.us/

For more information on Robin Glen, visit: https://RobinGlen.com

To schedule an appt with the Robin Glen team, visit: www.calendly.com/ccmoya

Key Topics Covered:

• Shifting terminology from budget to cash flow needs for a positive financial outlook
• The Five Areas of Active Wealth: investment structure, spending, leveraging assets, tax management, and asset protection
• Tailoring investment strategies based on risk tolerance and time horizons
• Utilizing tax strategies like donor-advised funds and annual exclusion gifts
• The significance of regular estate plan updates and understanding upcoming changes in the estate tax exemption
• Professional advice and the importance of a collaborative advisor team
• Preparing heirs for wealth management
• Emotional transitions post-business sale and the necessity of pausing to assess new financial realities
• Financial education resources and their role in long-term wealth management