Alberta Business Family Institute (ABFI)

Financial Planning

Financial Planning for Family Business Owners

A primary goal of financial planning for family business owners is to decide how, when and to whom to transfer wealth. In attempting to make the best possible decisions, this process involves projecting consequences in the form of a financial plan, and then comparing future corporate performance against this plan.

When it comes to financial planning and family business, two unique issues should be addressed: a change in management or ownership brought on by family changes (such as divorce) and issues surrounding succession and retirement.

Why Financial Planning Advice is Important to Your Family Business?

Tax and business advisors can help your family business with financial planning advice and services, including:?

  • Retirement planning - prepare to embrace life after family business by achieving your goals for the family enterprise and for yourself personally.
  • Estate planning - the goal of estate planning is to ensure that your family business evolves to meet changing family circumstances once you are gone. It includes issues such as income taxes and planning replacement income for survivors.
  • Family compensation - devising an effective structure for family compensation that addresses this sensitive topic.

Financial Planning Retirement Advice - Life After Business

Obtain financial planning retirement advice from the Alberta Business Family Institute. Our advisors can help you plan the course of your life leading up to and after retirement from your family business.

ABFI resources include expert advice, seminars and programs, tools for creating an estate plan checklist, books and online information sources. Contact us today for more information on financial planning for your family enterprise.