Setting estate planning goalsPart of the exit planning process is doing a personal financial review. A thorough exit plan should include an estate plan as part of the process. As you and your attorney begin planning, consider your goals for an estate plan. Here are some common goals to start the conversation:

  • Secure the financial future of your loved ones
  • Guarantee that assets are distributed to the intended recipients
  • Prevent legal conflicts with third parties
  • Reduce transfer taxes and income taxes as much as possible
  • Limit administrative costs and avoid probate
  • Protect family harmony
  • Assure good relations among business owners
  • Provide for the education of children or grandchildren
  • Contribute to a favorite charity
  • Reduce liabilities that might endanger the estate
  • Guarantee the capable management of the estate
  • Assure sufficient funds for the administrators of the estate

For more information about the estate planning process, within the context of exit planning, check out “Exit Insight: ‘Getting to Sold!’” by author Joseph M. Maas, founder of Synergetic Finance, SFM Advisors, Synergy 401(k) and Merrell Publishing. It’s available for purchase at