Selling A Business

Business Succession Planning & Exit Strategy 

When you decide to sell your business, you face many questions and challenges: What is my business really worth? How do I structure the sale of the business? What is my tax liability and how do I minimize it? Do I have enough money from the business sale to retire?

We help you create a financial plan that will enable you to maintain your lifestyle after the sale of your business. With decades of experience in counseling business owners, and as business owners ourselves, we can help you formulate a practical succession plan.

What is a Succession Plan?

A succession plan for business owners addresses three main issues:

  1. The sudden death or severe disability of the owner.
  2. Business partners deciding to part ways.
  3. An owner thinking about selling their business.

Essentially it is a plan for any transition of business control or ownership.

The Importance of Business Succession Planning

Whether you plan to sell your business to a family member or other third party, business succession planning is crucial for the legacy of your business (and your retirement). Our succession planning process strives to:

  • Address legal, tax and financial issues to consider.
  • Minimize tax liability from the sale of your business.
  • Identify how the sale of your business impacts your financial plan.
  • Prepare an income replacement plan once the business is sold.
  • Structure an investment plan to preserve, protect and grow your assets.
  • Review estate planning issues before and after the sale of your business. 

General Steps to Developing a Succession Plan:

  • Choose Your Successor
  • Set a Timeframe for When the Plan will be Executed
  • Transition the Business to Your Successor
  • Plan YOUR Retirement
  • Execute the Succession Plan

The Shakespeare Difference

When you choose to work with Shakespeare during the process of selling your business, you’re not only receiving advice, but the future of your well-being long after your business is sold. The team at Shakespeare is always looking out for your best interest on how to provide you peace of mind after this large financial decision is made.

  • Working Together: The sale of a business requires close coordination with your advisors. We serve as your “financial quarterback,” coordinating with your CPA, attorney and insurance professional to ensure your business value is maximized. Through collaboration, you win.
  • Fee-Only Advising: Operating as a fiduciary advisor, our fee-only model promises you will always receive the best possible advice with no influence from commissions.
  • Local Advising Experts: We live in the same community as you, take part in the same Lake Country events, and cheer for the same local sports teams. This makes us more familiar with the overall business landscape.


Businessmen shaking hands across coffee table in office lobby


Shakespeare Wealth Management, LLC
N22 W27847 Edgewater Drive
Suite 101
Pewaukee, WI 53072-5260