Partnership Planning from MCB
Whether you’ve been in a partnership in your business for some time, or you’re considering bringing a new partner on board, you should have a financial plan in place that protects you, your partners, and your business. Understanding what needs to be done when it comes to partnership planning can seem like murky waters to navigate. But it doesn’t have to be. When you work with MCB Business Consultants, we’ll get to know you and your partners, and help guide you through your options so that your business succeeds.
At MCB, we understand that no two businesses are alike, and therefore, no two partnership plans should be alike. We believe in working with you throughout a thorough discovery process, leaving no stone unturned – and no financial planning need unmet. We sit down with you and help you understand the intricacies of partnership planning, and help you find the right solutions that benefit you, your partners and your company.
MCB’s partnership planning services help you and your partners make the right financial decisions.
At MCB, our goal is to help you understand all the facets of partnership planning, and how to put these elements to work for your business. We educate you so that you have a complete understanding of the partnership planning services we offer, and how they can specifically benefit your company. Some of the partnership planning products and services we provide include:
- Executive carve-outs: These larger life insurance plans are generally offered to partners, key executives and professionals, and go beyond what a typical group term insurance plan offers.
- Buy/sell agreements: Most commonly drafted with an attorney with the guidance of a financial advisor, these offer protection for the business in the event that one partner dies or becomes unable to work.
- Key man insurance: This is a life insurance policy on key members of the business. These people are crucial to the business and its longevity.
- Non-qualified deferred compensation plans: This offers an option for helping highly compensated employees address their retirement needs, while helping the company attract and retain key executives. It is an option for these employees to maximize contributions that may be limited in a qualified plan, such as a 401k or a simple IRA.
MCB can help you with a partnership planning solution that perfectly fits your business needs. To learn more about the services we provide, contact us online using our convenient form, or feel free to call our Buffalo, Syracuse or Utica office. We will be more than happy to schedule a time to meet with you and help you with your partnership planning needs. We look forward to serving you and your business.