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Exit Planning for Business Owners

C&A Financial Group has a team of Certified Business Exit Planners (CExP) that specialize in guiding business owners through one of the most significant financial decisions of their lives—the transition and exit from their business.

Business owner based planning is absolutely critical and is the prerequisite for generating the most value and profit for your business. Helping business owners navigate the complex process of exiting their businesses can sometimes take 3-10 years to prepare and plan for to get Maximum Value, so even if you may not be ready to sell or transition, exit planning needs to be considered sooner than later. 

The primary goal of an exit planner is to maximize the value of the business at the time of exiting and ensure a smooth transition for the owner. A business exit planner plays a crucial role and their experience can be invaluable in achieving the owner's financial and personal objectives while minimizing potential pitfalls and risks. 

It is a holistic approach to creating a strategy that will allow you to receive maximum value for your life’s work after exiting your business. It encompasses setting Exit Objectives (e.g., when do you want to leave, to whom will you sell the business), pulling together a team of Trusted Advisors (e.g., CPA, attorney, financial advisor), and writing down each aspect of the transition sequence.

Schedule a Meeting With One of Our Exit Planners

What An Exit Planner Addresses

A Certified Business Exit Planner will help you receive the maximum value for your business, put in place tax strategies to reduce your tax burden and maintains control of the process to ensure a smooth transition. They manage the implementation of the recommended team of advisors that will allow you to focus on your business  - ensuring that everything is done on time, at budget and to your specifications. 

An Exit Planner addresses:

  • Your assessment, goal setting, and intentions for planning your exit
  • Valuation of the company today and what its worth when it comes times to sell
  • Transitioning the business and managing the handover seamlessly
  • Financial planning, cash flow and wealth protection
  • Exit strategy and development
  • Negotiation
  • What can be done to reduce income and estate taxes?

Planning Questions to Consider:

  • Who will you want to run your business after your retire?
  • How you're going to transfer ownership of your company to your son/daughter? Do you think he/she is going to take over someday?
  • What have you been doing to groom a success for your business?
  • What kind of planning have you done to address your tax liabilities when you sell your company?
  • Do you know what your business is worth on the open market today?
  • Do you know what your cash flow will look like in retirement?
  • Do you have plans in place for your business if something happens to you?

Our Certified Business Exit Planners

Amy Sonstein, CPA/PFS*, CExP™

Amy Sonstein graduated Magna Cum Laude from The George Washington University in 1999 with a Bachelor’s Degree in Accounting. After passing the CPA exam, she began her career in public accounting as an auditor with Deloitte & Touche. Thereafter, Amy spent four years as a forensic accountant at Parente Randolph before she joined C&A Financial Group in 2004.

In 2006, Amy launched Sonstein Financial Group, a full service financial services firm, in South Jersey. As the principal, Amy manages this growing and dynamic organization.

In addition to helping clients, Amy donates her time to a variety of causes. Amy is a guest lecturer at Rutgers University and a guest speaker for the American Institute of Certified Public Accountants. 

Licenses/ Associations

Certified Public Accountant (CPA) in New Jersey
Personal Financial Specialist (PFS)

Certified Business Exit Planner (CExP)

Variable Accident and Health Insurance License
Life Insurance License
Securities License Series 6, 7 and 63
American Institute of Certified Public Accountants (AICPA)
New Jersey Society of Certified Public Accountants (NJSCPA)

*Not practicing for Guardian or any subsidiaries thereof.

Contact: 

(856) 673-4150

amy.sonstein@sonsteinfinancial.com

Emily Zeigler, CFP®, CEPA

Emily Zeigler, CFP®, CEPA

Emily Zeigler is a Certified Financial Planner® and Certified Exit Planning Advisor (CEPA), and Director of Advanced Planning. She’s an expert problem solver for business owners and families, optimizing their wealth accumulation, distribution, and legacy strategies. Emily and her team bring a first class, family office experience to the community. 

Emily received her bachelor’s in business from James Madison University and CFP® from NYU. She started her career working in Latin America in the field of microfinance. She then spent time managing her family’s business and its ultimate sale, before she found her home and passion for planning at C&A.  

While Emily takes great pride in her work, her greatest gifts are at home. Her and her husband, Kevin, are parents to Zoey, Austin, and Margo. Together, they enjoy living at the beach, vacationing to the mountains, and savoring the moments of raising a young family.  

Contact:

(732) 558-9433

emily_zeigler@ca-strategy.com

Eric Rios,CExP™

"Professionalism with Integrity" has been my motto for many years. I am a “money coach," guiding my clients towards more cash-flow and savings, without compromising their lifestyle. What is your exit strategy and how do you get their, without living less?
 
I am a financial/investment professional for over 20 years, with institutional trading, financial advising, trade support and supervisory experience. My purpose in life is to educate my clients on the true definition of money. I customize a strategy that will enhance your quality of life and advance you towards financial confidence.

I spent many years impacting lives while performing in a travelling Gospel Rock Band. My transition has been rewarding. I’ve passed the torch to my son who now performs within the tri-state area. My wife and I live down the Jersey Shore and enjoy boating & BBQ’s with family and friends. If you need me on my day off....  I’ll be at the beach.

Contact:
(347) 693-4326 

eric_rios@ca-strategy.com

Thomas Dogas,CExP™

Thomas Dogas Financial Advisor, CExp, member of The BEI Network of Exit Planning Professionals™, recently earned the designation of a BEI Certified Exit Planner (CExP™). The BEI CExP™ designation is the standard for Exit Planning certification. Through training, rigorous testing and in-depth Exit Plan Creation coursework, Dogas has demonstrated that he is qualified to provide comprehensive, professionally executed Exit Planning services to the business owning community.

After 25 Years In The World of Finance, Marketing and Sales I Finally Discovered "My" Why. Where could I help people the most and make the greatest difference?
So I underwent a "rare" training process and now I provide a unique coaching experience that creates a safe place for people to unravel and discover their emotions and uncertainty around their money and financial future.
It is done thru "Listening" prompted by asking pertinent questions. Connecting with people is "life giving" for me and building relationships brings me great JOY!
The biggest compliment I could receive is "Tom is one of those guys you want in your foxhole with you."

I love the NY Yankees and all the history they represent. I enjoy coaching and watching my children's sports teams...especially baseball!
I love to cook and enjoy any and all types of cooking experiences even with my wife!
I love my family, my church, being in the gym, the outdoors and our family pet rabbit dearly!
I am a "big fan" of a life of continuous improvement!

Contact:

(917) 699-1061

Thomas_Dogas@ca-strategy.com

Business Owner Resources

  Exit Planning    Workbook

The Exit Planning Workbook encourages business owners to develop a strategy and organization around their Exit Plan.

Request Exit Planning Workbook

Request an Exit Planning Assessment Brochure

The brochure will help identify your business objectives, financial resources and provide ways to protect your business' value.

Request Brochure

Value Driver  Assessment Booklet

Identify srategies to increase your company's cash flow to capitalize on the sale or transfer of your business.

Request Value Driver Booklet
Schedule a Meeting With One of Our Exit Planners

Identifying the Exit Planning Process

Step 1

Step 1

Create & Clarify Exit Objectives

Step 2

Step 2

Determine Business Value

Step 3

Step 3

Grow Business Value

Step 4

Step 4

Sell to Insiders

Step 5

Step 5

Sell to a Third Party

Step 6

Step 6

Business Continuity

Step 7

Step 7

Estate Planning

Step 8

Step 8

Schedule An Appointment

Business Owner Podcast Library

Why We Plan: Deferring taxes Is A Key element of Exit Planning

 In this episode of "Why We Plan," John Brown, the founder of BEI, is joined by Dan Finn, the founder of Finn Financial Group, to discuss how business owners can reduce the tax impact of selling their business to a third party. Finn explains how Section 453 of the Internal Revenue Code can be used to take a cash sale and defer a portion of the proceeds, thereby reducing the tax obligation in the present and deferring it into the future.

Podcast

Why We Plan: Exploring Alternatives to Selling Your Business

In this episode of "Why We Plan," host John Brown speaks with Michael Wildeveld, a business advisor and Certified Exit Planner who specializes in selling companies. Throughout the episode, Michael emphasizes that selling a business is not the only option for owners looking to exit. Michael discusses other Exit Planning strategies, such as ESOPs, majority-minority recapitalizations, and private equity sales with significant rollover equity. He emphasizes that proper planning and techniques are essential to achieving a fulfilling post-sale experience for business owners.

podcast

Exit Planning Professionals who successfully complete the BEI Certified Exit Planner program have come to be known as premiere Exit Planning Professionals because their in-depth knowledge and demonstrated application of The BEI Seven Step Exit Planning Process™ perfectly positions them to counsel business owners and their advisors on a wide array of business issues ranging from building value within a business to identifying exit objectives, addressing key employee incentive planning and retention issues, incorporating business continuity planning, and establishing wealth preservation.

Why We plan: Exit Planning For women business Owners

Christina Gamache, Owner & President of Audax Wealth Management, met with John Brown, Founder of BEI, to discuss the differences between working with female and male business owners. Christina helps her business owner clients uncover the gap between what they have on their balance sheet and what they need for retirement. In this podcast, she discusses the tools she suggests business owners use to build that bridge to close the gap.

Podcast

Why We Plan: Everything You Need to know About Business Valuations

In this episode of Why We Plan, John Brown, Founder of BEI, sits down with Donald Feldman, CExP, President and Founder of Keystone Business Transactions, LLC to discuss business valuations. Don has been providing business owners with business valuations for many years. He goes into what to look for, what they cost, and when you may or may not need a proper valuation. Don walks through the different kinds of variations available to business owners and the different software options available.

Podcast

FAQ's

Is an Exit Plan the same thing as a Succession Plan?

The two terms can be mistaken to mean the same thing but they are different and sometimes planned for at the same time. 

Succession Planning is the process of identifying successors within a business and providing them with an opportunity to develop their skills and experience in order to replace the existing leaders of the business at a future date. Succession planning primarily focuses on the transfer of leadership and/or management from one generation to the next within the business. Succession planning is essentially a business continuity approach, which is one of the critical Components of Exit Planning.

Exit Planning is the comprehensive analysis of all of the factors that impact a business owner. Exit Planning addresses a wide variety of issues that are important to business owners, including their current and future planning with respect to their business (its value, its employees, its position in the market), their family and their community. Exit Planning starts from the perspective of the business owner's goals and objectives in each of these critical areas, along with his or her current and projected resources (business value, personal and business financial resources), to identify the specific strategies and steps that are most likely to allow the business owner to reach his or her goals.


My CPA or Attorney can create an Exit plan. Why do I need to Hire a Certified Business Exit Planner?

A CPA or Attorney can be a valuable member of the Exit Planning Team because of their expertise, however, a BEI Certified Exit Planner has the training to help create an Exit Plan from the big picture perspective. The Certified Business Planner and the 8 Step Exit Planning Process is a trunkey resource for business owners to help with setting your goals and objectives to setting the transition strategies. 


Who Needs an Exit Plan?

Any business owner who wants an orderly, financially sound, and tax efficient exit from their business. 


How much does it cost to create an Exit Plan?

There are many variables in creating an Exit Plan. There are simple plans for single owners of a small company and complex plans for larger companys with several owners or locations. We will work with you to research your situation and customize the best options and price point for your specific needs. Other costs that should be considered include professional fees for a CPA or attorney. 


How long will it take to complete my Exit Plan?

A typical Exit Plan will take appoximately 60-90 days to build. Depending of individual circumstances, they may take longer depending on the availability of the owner/s that are involved. 


What if I never want to retire? Do I still need an Exit Plan?

An Exit plan looks at many different aspects of your business and personal situation, so we recommend building a plan to cover business continuity issues, Estate Planning, building business value - all pieces of comprehensive planning.

What Is BEI And CExP™ Certification?

Business Enterprise Institute (BEI) trains and certifies BEI Certified Exit Planners (CExP™) to create comprehensive Exit Plans that meet the objectives of their business owner clients. Through training, rigorous testing and ongoing continuing education, CExP™ designation holders provide comprehensive, professionally executed Exit Planning services. BEI requires specific training as a prerequisite to certification to assure that practitioners have the knowledge and understanding necessary to perform competent services, and to assure a level of consistency and continuity in their work product. A primary requirement for becoming a CExP™ is to hold a valid license as a Certified Public Accountant, Attorney, Certified Financial Planner, Chartered Life Underwriter, Chartered Financial Consultant, or equivalent professional experience.

BEI DISCLAIMER:Content on the website is for general information only and is not intended to provide specific advice or recommendation to any individual. Additionally, it is not to serve as a substitute for individualized tax and/or legal advice. If you have a concern regarding your specific situation, please discuss it with a qualified tax or legal advisor or contact us today. This White Paper is provided pursuant to a licensing agreement with Business Enterprise Institute, Inc. Further use of this content, in whole or in part, requires the express written consent of Business Enterprise Institute, Inc. BEI grants Member a limited, non-exclusive, non-transferable right, during the term of this Agreement, to use the marketing, educational, planning or networking/community resources, materials and tools provided by BEI in connection with the Membership and Member’s specific Membership Level. Member should refer to BEI’s published lists of resources, tools and services offered in connection with Member’s Membership (“BEI Materials”). Member may not share, transfer or distribute the BEI Materials other than in the course of engaging in Member's Exit Planning practice and only during Member's membership in BEI. Member may only use the BEI Materials during the term of this Agreement in the marketing to, engagement or and representation of business owners and may not use the BEI Materials for the benefit of or as a service to any other individual or entity who is not also a member of the BEI Network of Exit Planning Professionals. In other words, Member may not share or resell any BEI products, services or BEI Materials except in the conduct of Member’s personal/individual business planning activities for Member’s business owner clients and prospects. Member agrees that BEI Materials (including print materials and customized/branded materials purchased or acquired through BEI) are to be used only by Member during the term of this Agreement and will not be used, transferred or sold by Member after termination of this Agreement.   BEI shall determine, in its sole discretion, behavior that constitutes an unacceptable use of the BEI Materials. The BEI Policies & Procedures may contain more detail regarding appropriate use, or a member of the BEI Member Services team may be able to provide further detail. Any unacceptable use of BEI Materials will result in a revocation of Member’s limited rights to the use of the BEI Materials. The limited license terminates automatically upon termination of Member's membership and no access to, use of or sharing of the BEI Materials is permitted after such termination. Member agrees to indemnify BEI and hold BEI harmless from any damages BEI may suffer as a result of Member's violation of the terms of this limited license, and further agrees that each instance of misuse of the BEI Materials in violation of the terms of this limited license shall entitle BEI to recover $1,000 or BEI's actual damages, whichever is higher.