Coeur d’Alene, ID – Importance of Developing a Legacy Plan from a Business Coach

Written by Keith Atneosen

March 13, 2023

I Will Bring Ideal Business Coaching for Your Future

Whether you’re planning to retire and give away your business or considering the possibilities of the unknown, develop a legacy plan for those left behind. Unfortunately, it’s tricky to determine the best steps to take. Freedom Summit Consulting of Coeur d’Alene will help you develop a legacy plan for the coming years.

Legacy plans are more than a preparation product, they are also a guide for those who will care for and obtain your assets after you leave a business behind. The earlier you plan for this item, the more secure your wishes will be when it’s up to others to handle them. It’s easy for things to dissolve into chaos if there is no plan in place.

I am an experienced business coach with plenty of experience working with owners on planning and preparing to move away from the ownership of their company. A legacy plan will help you feel confident and pave the way for the next generation of leadership in your field.

Benefits of a Legacy Plan

It’s vital to avoid delaying developing a legacy plan for the sake of your business and loved ones. You don’t want to be near retirement and find nothing in place or be taken off-guard by a health scare, requiring you to step down from your position and pass your business to another. Start a legacy plan now for the best results.

Although it might seem daunting to attack a legacy plan, there are many benefits to going through the planning process. It’s well worth any effort you put into it for the sake of what you have responsibility over.

There are many benefits to developing a legacy plan. A few of the most prominent include: 

  • Full control: With a legacy plan, you get control over what happens with your business. You may dictate the next steps and determine where your items go after you move forward from your position. 
  • Reduced tax burden: There will be less of a tax burden for loved ones if you plan.
  • Ensures wishes occur: If you have specific requests, a legacy plan will ensure your wishes occur.
  • Stops family issues: Bickering family will not argue with a legacy plan set in place.
  • Keep your business going: A quality legacy plan will ensure your business continues if it is your wish.

These will secure your future for those taking on your assets and properties.

If you are hunting for an excellent business coach to assist with developing a legacy plan and living in the Coeur d’Alene area, contact me. I will help you prepare for the future to ensure your business is in safe hands.

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