It’s not often that business owners pursue their post-exit future alone. Their goals, both financial and personal, are often tied to the lives of the people that surround them, whether that be family, employees, or business partners.
While a transition changes who leads or owns a company, it can also change relationships, responsibilities, and expectations of all involved.
In this new whitepaper, discover the Family Alignment Framework, a new way for business owners and their advisors to consider the way they formulate a personal plan. To learn more, read on below and then download the whitepaper using the form.
Family Alignment expands the Three Legs of the Stool – Business, Personal, and Financial – by addressing the shared realities that extend beyond the owner to the people whose lives will be influenced by the transition itself.
Just as Certified Exit Planning Advisors (CEPA®) and business owners work to align the Three Legs of the Stool in the Value Acceleration Methodology™ (VAM), Family Alignment aligns the objectives and purpose of the family members involved so they can move forward with a shared understanding and the freedom to pursue lives of purpose in their next chapter.
Similarly to exit planning, Family Alignment is not a one-time event that a business owner completes right before exiting their business. It is an ongoing process that can involve business, personal, and financial considerations.
“Family Alignment isn’t built in a single conversation, and it certainly isn’t built in a single generation. But it helps families expand their choices as an owner reaches an exit,” writes Scott Snider, president of the Exit Planning Institute® (EPI). “It develops one intentional decision, one meaningful conversation, and one shared experience at a time.”
Families navigating transition discussions often face questions across four interconnected dimensions that shape the quality of their decisions before, during, and after a transition. The following dimensions form the Family Alignment Framework:
Together, these dimensions provide a way for families to organize conversations that come up during the transition process. For a deeper dive into these dimensions and the overall Family Alignment Framework, download the Family Alignment whitepaper below.
For business owners who aren’t looking to transition a business to a family member, it’s important to note that Family Alignment isn't limited to those kinds of exits. Every business transition has effects that extend well beyond the transaction, as the decisions made throughout the process influence the opportunities available to spouses, children, employees, and future generations.
This underscores the importance of personal planning and clear objectives for what comes next for a business owner and their family post-exit.
If you are an advisor who serves business owners, this whitepaper provides insights from members of the EPI Thought Leadership Council and subject matter experts, along with an actionable framework to assist your clients.
To learn more and begin having these crucial conversations with your business-owner clients, download the whitepaper using the form below.
The Exit Planning Institute® (EPI) is the exit planning market leader, providing education, tools, resources, and the ecosystem to support professional advisors across the globe on all things Value Acceleration. EPI’s offerings include the Certified Exit Planning Advisor credential, the annual Exit Planning Summit, EPI Academy, an extensive Chapter Network, and more.