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LET'S TAKE THE NEXT STEP

HELPING BUSINESS OWNERS BUILD, PROTECT, AND TRANSITION WEALTH.

THE BUSINESS OWNER WEALTH & READINESS SCORECARD

IS YOUR BUSINESS PREPARED FOR THE NEXT PHASE?

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MOST BUSINESS OWNERS HAVE THE MAJORITY OF THEIR WEALTH TIED TO THEIR BUSINESS BUT HAVE NEVER EVALUATED WHETHER THEY'RE PREPARED FOR A MAJOR TRANSITION. 

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COMPLETE THIS 10 QUESTION ASSESSMENT TO IDENTIFY POTENTIAL GAPS IN YOUR BUSINESS, PERSONAL WEALTH STRATEGY, AND LONG TERM PLANNING.

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INSTRUCTIONS

Family by Ocean
Family by Ocean
1.) Have you obtained a formal business valuation or updated estimate of your company's value within the last 24 months?
Yes
Partially / Informal estimate only
No / Unsure
2.) Do you have a documented plan for ownership transition, sale, succession, or retirement?
Yes
Informal plan only
No
3.) If you have business partners, do you have a current buy - sell agreement that has been reviewed within the last two years?
Yes
Agreement exists but needs review
No
4.) Do you have a strategy to protect your business if a key owner or employee dies, becomes disabled, or leaves unexpectedly?
Yes
Partial coverage
No
5.) Could you maintain your desired lifestyle if you stepped away from your business today?
Yes
Partially
No
6). Is more than 50% of your net worth outside your business?
Yes
Approximately 25- 50%
Less than 25%
7.) Do you have a coordinated strategy to minimize taxes related to income, business ownership, retirement, and future sale?
Yes
Partial Strategy
No
8.) Do you have current estate planning documents, including wills, power of attorney, trusts, and beneficiary designations?
Yes
Documents need updating
No
9.) Do your financial advisor, CPA, attorney, insurance professionals, and other key advisors communicate and collaborate on your behalf?
Yes
Occasionally
No
10.) Do you know how much after -tax income your business proceeds would realistically generate after sale?
Yes
Rough estimate only
No
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