An estate planning attorney can be an invaluable member of an exit planning team, especially in a family-owned business.
Estate planning attorneys, by themselves, work to help prepare legal documents and strategies that protect and manage assets for their clients during and after their lives. Their legal expertise can help minimize legal friction and reduce the risk of disputes among family members before and after they exit their business.
For many business owners, exit planning is not just about selling a business; it also involves protecting their family’s legacy and wealth in the long term. Estate planning attorneys help turn the owner and their family’s goals into enforceable documents and coordinate the plan with tax, trust, and succession strategies.
Why Should Owners Include an Estate Attorney on Their Team
In the Value Acceleration Methodology™ (VAM), Certified Exit Planning Advisors (CEPA®) work with their clients to balance the Three Legs of the Stool: business, personal, and financial. An estate planning attorney fits into the Methodology by aligning the owner’s business exit with their broader legacy and wealth-preservation objectives, rather than treating estate planning as an afterthought.
An exit planning team benefits from an estate planning attorney because a strong exit plan must work before, during, and after the business transition. Without legal coordination, an owner might have what seems like a great deal on paper, but still have gaps in their personal plan or family transfer plan after the transition.
In a well-constructed exit team, the estate planning attorney works alongside the CEPA and other advisors to ensure the plan is coordinated.
This collaboration helps reduce mistakes like outdated beneficiaries, unfunded trusts, or assets passing in a way that contradicts the estate plan. It also gives the client a more complete plan that covers both the legal documents and the financial implementation needed to make those documents work in real life.
Build a More Coordinated Exit Team
For a business owner, deciding to exit can be a life-changing decision. It can affect not only them, but their family and legacy. When an estate planning attorney is part of their advisory team, owners can move forward with greater confidence that their life after exit will move forward without a hitch.
If you’re a CEPA looking to connect with an estate planning attorney in the Exit Planning Institute® (EPI) community, consider joining your local EPI chapter, attending the Exit Planning Summit, or logging in to the new CEPA Connect platform.
Available for CEPA Plus and CEPA Mastery members, CEPA Connect is a place for exit planners to ask questions and build relationships to help business owners achieve significant exits. To learn more, visit CEPAConnect.com or read our announcement blog.
About the Certified Exit Planning Advisor Credential
A Certified Exit Planning Advisor (CEPA®) is a professional credential for advisors who wish to engage with business owner clients through the exit planning process using the Value Acceleration Methodology™. Through the CEPA credential, advisors can provide new offerings for clients and stand out from their non-CEPA peers, all while gaining access to education, resources, and a vast network of like-minded professionals.
Related Resources
