I am often asked, “How long will it take to sell my business?”  That depends on a number of things.  It’s easier to estimate the time needed for certain aspects of the selling process than it is for other aspects. I usually break down the process for selling a mid-market company into six milestones. Let’s look at each milestone, considering what it involves and how long you can expect it to take.

1. Evaluation and Presale Planning.  This is probably the hardest part of the process to estimate.  I usually recommend that you begin planning your exit many years in advance of when you will actually want to sell your business.  Many sellers are unaware of the advantages of working with a good intermediary to position the company for maximum value, and they don’t realize that the sooner you start that process, the greater the value of your business at the time of sale. Once you are ready to put your business on the market, it may take 3 or 4 weeks to perform an evaluation on the business.  It takes that long to gather and digest all the necessary information to understand and value your business and create the most effective sales strategy.

2. Packaging.  It usually takes about a month to create all of the materials needed to market a mid-sized company.  I usually create an Offering Memorandum as the primary tool to market your business.  This is similar in length to a business plan, but it has a much different purpose.  It is time consuming to write but saves time later in the process when working with multiple buyers.

3. Identifying Acquisition Candidates.  Finding the right buyer can take months and sometimes years.  If there are obvious buyers for your business, then it may take two to three months to determine if any of them are interested in making an offer.

4. Negotiating Letters of Intent (LOI).  Assuming that one or more identified buyers want to make an offer on the business, it takes 45 to 60 days to negotiate the Letter of Intent.  The buyer will rarely make a full price offer on the first pass; so you’ll be negotiating a number of drafts of the LOI before it is acceptable to all parties.  In most situations you should keep seeking additional buyers until the LOI is signed.  At that point you’ll be working with only that buyer (since most LOIs forbid you to court other buyers).

5. Contracts and Due Diligence.  Once the LOI is signed, your next steps are to negotiate the contracts and perform due diligence.  These are separate processes that usually occur in parallel, taking about 90 days to complete.  Now is also the time for the buyer to procure any third-party financing.  Most financing takes about 90 days to put in place, so if the buyer does not have financing sources already identified, this may stretch out the time to closing.

6. Closing.  The closing is when the business actually changes hands.  This is handled primarily by the attorneys and may take a day or two, depending on whether all the documentation is accounted for and there are no problems uncovered.

The upshot?  I tell clients that it may take from between nine months to a year to close a transaction on a middle market company – from the time you actually put it on the market.   On rare occasions, I’ve seen transactions that closed on tighter timeframes.  But usually these situations were the result of an industry savvy buyer coming in and making an offer the seller couldn’t refuse!  Be aware – this does not happen too often. You can hope it will happen for you, but be prepared to take the time necessary to sell your business.

Exit Planners usually work with the client to create and implement an Exit Plan.  They also help their clients put together a team of advisors.  An investment banker is a crucial part of your advisory team, if the goal of your business exit strategy is to sell your business at some point in the future.

I recommend that you engage an investment banker in the early stages of implementing your Exit Plan, rather than when it is time to put the business on the market.  If there is a value gap (meaning that the value of the business is not high enough to meet your needs when sold), the investment banker can help find ways to close the value gap.  Investment bankers work with buyers all the time and offer a fountain of information on how to add value to the company.

Also, if unsolicited buyers come in during the implementation process, you should refer them to your investment banker.   The investment banker can qualify these inquiries to determine whether or not these buyers are worth pursuing – either now or when you are ready to sell.  Sometimes the best opportunity may be an unsolicited offer that is presented prior to the expected time-frame of the sale.  By having an Exit Plan in place, you will be ready to react to such an offer.  In fact, my last exit planning assignment ended with a sale to an unsolicited buyer before the business was even put on the market.

When it is time to put the business on the market, your Exit Planner should stay involved to make sure that you, the client, receive the necessary counseling concerning the sale and that the investment banker is “working for you and not the deal.”

Lastly, when you reach the point in the transaction when offers are being submitted, the Exit Planner can take that real world data and input it into the Exit Plan to help determine whether or not these offers will in fact meet your objectives. Having this information can also help drive the negotiations to a place where your objectives are met.  It doesn’t make much sense closing the transaction unless either your objectives are met or the objectives are modified to work within the parameters of the deal that’s on the table.  With information supplied by the investment banker, both you and your Exit Planner may be able to redefine your goals and objectives from the sale.

It is important for you and your Exit Planner engage an investment banker early in the Exit Planning process. The right investment banker will add a great deal of value to any business sale transaction.

A number of business owners have commented to me that they don’t need an Exit Plan because they already have an estate plan. Others have said that they don’t need an Exit Plan because they are covered by their Buy-Sell Agreement. I admit that part of Exit Planning does deal with what happens if or when you die—called Contingency Planning or creating an Emergency Exit Plan. Contingency Planning deals with what happens to you and your business if you “get hit by a bus tomorrow.”

I also realize that all entrepreneurs are immortal! Still, once in a while disaster does happen. Last year I received two different calls from attorneys on behalf of the spouses of business owners who unexpectedly died. One was in his late forties and one was in his early fifties. Neither had an Emergency Exit Plan, so both spouses were sitting in the lawyer’s office wondering what to do next. They did not even know where the checkbook was. Though admittedly not a common situation, it was sad for all involved—and there were no easy answers.

What is not usually understood about business Exit Planning is that the largest part of the planning process deals with what happens if you don’t die. If you continue living, both your Buy-Sell Agreement and your Estate Plan are useless. You need an Exit Plan to deal with the eventuality of living a long and successful life.

At some point you may to want to start to enjoy the fruits of your years of hard work. You may need to convert some of the equity in your business to support your retirement needs. For most owners, your business is an illiquid asset. How will you access the cash that is locked in the business?

You also need to plan for the time when you may not able to effectively manage the business. Did you know that 40% of all people, including business owners, retire early for medical reasons? It can happen to any one of us. How would you cope with that kind of situation? Do you have a second-tier management team ready to fill your boots if something happens? Don’t delay Exit Planning because you don’t think you need to do it now. Life’s realities indicate that you do.

I caught a business headline today that gave a welcome break from some of the gloomy current top stories: “Extravagant Spending, $16 Muffins Found at U.S. Meetings.” Here’s the scoop: “Sept. 20 (Bloomberg) — U.S. Justice Department agencies spent too much for food at conferences, in one case serving $16 muffins and in another…Swedish meatballs costing $5 apiece.”  I agree that it’s disheartening to see another example of wasted tax dollars when the U.S. deficit is astronomical, but quickly my thoughts turned in another direction.

What would my clients – who by and large are owners of mid-size businesses – do if this was their business and $16 muffins or $5 meatballs were discovered at an in-house meeting? Some of them would be shocked; yet some would not – because they are so involved in every detail of their business that they would have approved the menu weeks before the event.

Every business owner has their own style of running a business, and solid, healthy businesses are run by every style of owner. But far too often in my business as an Exit Planning advisor, I see business owners getting overly involved in the small day to day decisions and losing sight of the bigger picture.

If you are such a “hands on” manager that you know the exact cost of every meatball and muffin served in your conference room, then you may be too focused on pinching pennies. It’s possible that by not stepping back and creating an Exit Plan, you will lose out on hundreds of thousands of dollars – or maybe even millions – when the time comes to sell your business.

Maximizing the value of your business and putting a solid Exit Plan in place takes time and commitment.  But the rewards you reap will buy a whole lot of muffins in your Golden Years!

Route Information Base

A colleague recently sent me a copy of a recent very informative survey report conducted by PwC (PricewaterhouseCoopers), who interviewed over 1,600 family business owners and managers from 35 different countries. Because most of my Exit Planning and M&A clients are owners of family businesses, I was quite interested in the findings.  You may be, too.

It may be helpful to look at a family business by thinking of it as three overlapping relationship circles:  Family, Business, and Ownership. The area in the very center of the circles creates the most complexity – the place where it is crucial to navigate the waters of decision making with a great deal of wisdom, sensitivity to volatile personal issues, and often the openness to accept outside assistance when needed.

According to PwC, the most healthy and successful family-owned businesses know how to find a balance between these circles. They depend on “professional management, responsible business ownership and a harmonious family dynamic.”  This can be difficult at times, of course, but if there are “clear written agreements” about how decisions are made and which family members can be part of the business, many difficulties can be avoided.

Healthy family businesses also have “robust governance procedures” that include the use of outside managers if needed and a willingness to hold family members just as accountable for their performance as non-family members. Good boundaries are established between business issues and family issues.  Rules are established about the buying and selling of shares and how to keep the family finances in good shape no matter what is happening to the business.

Finally, and a key element to success, in my opinion, the most stable and profitable family businesses use experienced professional advisors to ensure that business decisions are made wisely and objectively.  That way, risks can be minimized, business value can be maximized, and the business can have a long and healthy life, no matter who is at the helm.

Pinnacle Equity Solutions San Francisco Bay Area Exit Planning Chapter Meeting

You are invited to join us at a private breakfast on Tuesday, October 18, 2011, for the new San Francisco Bay Area Exit Planning Chapter.

This is an exclusive opportunity to network with successful Bay Areas business leaders, and hear John Leonetti of Pinnacle Equity Solutions and author of Exiting Your Business, Protecting Your Wealth speak. See the ABC interview with John Leonetti here. 

Come and see for yourself how you can expand your practice to include exit planning services  and meet the founding members of the Pinnacle Equity Solutions San Francisco Bay Area Chapter.

Who Should Attend: Accountants, insurance brokers, business brokers, closely-held business owners, financial planners, attorneys, estate planners, M&A professionals, and anyone else interested in learning more about exit planning services.

Event Details:

Tuesday, October 18, 2011 

Wendel Rosen Black & Dean Conference Center
1111 Broadway 19th Floor
Oakland, California 94607

Registration is $45.00  and begins at 7:30 a.m.

You will:

• Surround yourself, meet, and network with other business leaders in the Bay Area community.
• Learn about advanced business exit strategies and succession planning techniques.
• Understand the landscape of service providers when planning a business exit for yourself or for a client.
• Know business valuation basics and agreements required in a deal.
• Stay on top of trends in today’s marketplace.
• Grow your referral base and networking circle.

Fred Lezak, F.T. Lezak Associates

Phone:  925-360-4328

Address: 1480 Moraga Road  Suite 354,  Moraga, CA 94556

Fred provides Interim CFO and CEO services. He is a professional speaker providing seminars to financial community and keynote and subject content speeches for business conventions and meetings. Fred is an expert advising companies seeking to be acquired on financial and strategic issues

Alan Campbell, B2B, San Jose, CA CFO

Phone: 408-927-9587

Address:  6448 Pfeiffer Ranch Ct., San Jose, CA 95120

Alan has over 30 years of broad-based financial and operational experience. Alan has over 20 years of experience at the CFO, COO and Controller level in a variety of industries, including computer hardware and services, high-tech manufacturing, telecommunications, distribution and insurance.

Alan has also founded, built and sold two successful start-up companies. He knows what it is like to meet payroll and fulfill the many demands placed on the small business owner. Alan considers himself to be a business man first and finance professional second.

Elliot Kallen, President, Wealth Manager and Registered Principal,  Prosperity Financial Group

Phone: 925-314-8503 or 925-314-8504

Address: 2333 San Ramon Valley Blvd.Suite 200  San Ramon, CA 94583

Elliot Kallen is a community leader who brings more than 30 years of robust entrepreneurial experience to the financial services industry. He is a wealth manager, registered principal, and co-founder and resident of Prosperity Financial Group. Prosperity Financial Group is a boutique money management firm in San Ramon. They specialize in working with small business owners, busy professionals and forward-thinking retirees who wish to leave a legacy, improve their personal profitability and invest for the future. While living on the East Coast, Elliot built a 2,000-member international organization.

Elliot has also been included in “Who’s Who of Professionals of 2000” and Strathmore’s “Who’s Who of 2007” from working with business owners and affluent retirees. In 2003, Elliot received the Businessman of the Year Award from the NRCC Business Advisory Council in Washington, D.C., and has been featured in The Wall Street Journal. 

Edward Wenrick, Vice President at Bernstein Global Wealth Management

Phone: 415-217-8084
Address:  555 California Street, Suite 4300  San Francisco, CA 94104

Edward focuses on research based investment planning and money management for high net-worth individuals, families, and endowments. He has also leveraged Bernstein’s research based investment planning and globally integrated money management platform to provide clients with superior long-term investment success and peace of mind. Mr. Wenrick has also helped to build the most respected private client practice at Bernstein.

Andy McClure, Sherpa Business Development

Phone: 925-683-1685

Address:  P.O. Box 2786  Danville, California 94506

Andy personally acts as a virtual Vice President of Marketing and/or Sales for small businesses. He guides the marketing and selling strategy and acts as project leader to execute high-impact programs and practices. This work includes coordinating the strategy efforts of staff as well as outside vendors. Part of Andy’s team includes professional Internet Marketers who increase online sales strategy through powerful online marketing techniques. Andy is a “Rent a VP of Sales and Marketing.”

Stephen P. Tessler, Executive Vice President of Sales at California Bank of Commerce

Phone: 925-444-2933; 925-283-2269
Address:  3595 Mt. Diablo Blvd. Second Floor  Lafayette, CA 94549

Mr. Stephen P. Tessler serves as Executive Vice President of Sales at California Bank Of Commerce. Mr. Tessler joined the Bank in August 2007. Before joining the Bank, Mr. Tessler spent three years as Manager of Business Development and Marketing for Diablo Valley Bank. Mr. Tessler serves as the Chairman of Manex, Inc. Mr. Tessler has worked for City National Bank, CivicBank of Commerce and Wells Fargo Bank.

Daniel J. Donovan, Management Consultant at the Donovan Group

Phone: 510-215-1700

Address:  Home Office Box 6996  Incline Village, Nevada 89450

Daniel Donovan is a management consultant who brings a broad background and hands-on experience in implementing change to achieve long-term business growth and increased profitability. Over the past several years, Dan has managed the placement of $750 million in new and replacement refinancing, thereby allowing clients to effectively restructure and redirect their companies.

Terence Church, Principal at Morgan Miller Blair

 Phone: (925) 979 – 3388

Address: 1331 North California Boulevard, Suite 200  Walnut Creek, CA 94596

Terry Church has more than 25 years’ experience helping a broad spectrum of business and technology clients address and manage their complex licensing and commercial transactions. Terry is the Vice Chair of the firm’s Business & Technology Group and serves as a legal advisor to technology and non-technology clients, ranging from emerging growth to mature companies.  He works with clients in securing and protecting trademark, copyright and trade secret intellectual property rights.

Dick Lyons, Attorney and Partner at Wendel Rosen Black & Dean

Phone: (510) 834-6600

Email: rlyons (at) wendel (dot) com

Address:  1111 Broadway, 24th Floor  Oakland, CA 94607-4036

Dick, a  partner at Wendel Rosen, practices business and intellectual property law. Over his 30-year caree, Dick has handled M&A transactions in a wide range of industries, representing company sellers, buyers and investor. He knows the pros and cons of earn-outs, stock for stock deals, taxable and tax-free structures, covenants not to compete, recapitalizations, sales to employees and other issues specific to M&A.

He believes that a legal adviser must be practical and understand the business realities of a transaction in order to provide effective advice. He is particularly interested in seeing owner/founders be successful when they are ready to sell their companies.

As a co-founder of Wendel Rosen’s Green Business Practice Group in 2000, Dick helped Wendel Rosen become the first certified green law firm in the country. Dick is also a host of The Wendel Forum on KKGN Green 960 AM.

Elizabeth M. Engh, Attorney and Partner at Wendel, Rosen, Black & Dean

Phone: (510) 834-6600

Email: eengh (at) wendel (d0t) com

Address:   1111 Broadway, 24th Floor Oakland, CA 94607-4036

When Liz talks about estates, trusts and tax issues, the legal community listens.  So do her many long-term clients who have come to count on her advice during her over 30-year legal career in Oakland.

For years, Liz has been a voice of the Continuing Education of the Bar, lecturing annually on legal changes affecting estate planning.  She has also been chair of the Alameda County Bar’s Estate Planning section, and has been active in the State Bar’s Estate Planning Section.  Liz is a Certified Specialist in Estate Planning, Trust and Probate Law, certified by the State Bar of California Board of Legal Specialization.

Gary T. Brooks, President of Exit Plan Pros

Phone: (925) 253 – 0777

Address:  120 Village Square Suite #152  Orinda CA 94563

Mr. Brooks has over 25 years experience in the investment banking industry and has completed over 100 transactions. He also has 10 years in financial planning and company management. Mr. Brooks has been directly involved in business valuations, mergers, acquisitions, family and management buyouts, workouts, and turnarounds.

He has also been successful raising capital for growing company clients. Mr. Brooks has participated in all phases of the M&A process including packaging, marketing, negotiating, structuring and financing these kinds of transactions.  In 2006, Mr. Brooks founded Exit Plan Pros to capitalize on his experience and offer a vertically integrated exit planning advisory service to mid-sized business owners.

 Constance K. Lemon Kosla, Senior Vice President & Manager at California Bank & Trust

Phone: :415-875-1330 and 415-875-1334

                                                       Address:  465 California Street  San Francisco, CA 94104

Conni Lemen-Kosla currently as senior vice president and branch manager of San Francisco main, as well as manager of private banking for the San Rafael office of California Bank & Trust. She is the regional Manager for the Executive Market Segment for the Business and Personal Banking Division.

Ms. Lemen Kosla overseas the two branches and private banking division in Northern California. Ms. Lemen Kosla also has more than 30 years of banking and financial experience.

Brian Lewis, Senior Vice President

Phone: (925) 253- 5301

                                             Address:  2 Theatre Square Suite 322  Orinda, CA 94563

Mr. Lewis has been with Morgan Stanley and its predecessors for over 23 years.  He is the Orinda branch manager and has over 750 million dollars under management for his high net worth clients.

“Over the last 12 years, I have worked with Brian on three Exit Plans that involved M&A transactions with a total of over $22 million in value.”  – Gary Brooks

Rodger Schuester, CPA

Phone:707-557-6601

Address: 127 Patrick Ct.  Vallejo, CA 945913

Rodger provides business appraisals and forensic accounting to business litigation, estate and wrongful termination attorneys. The appraisal reports and work products are designed to meet the ever-increasing rigorous standards of the IRS and litigation environments. Rodger has served as an expert witness in numerous cases.

 *This event is sponsored by Wendel, Rosen, Black, & Dean LLP

I’ve been noticing, as you probably have, how the proliferation of news stories about the August 2 deadline for raising U.S. debt ceiling. If President Obama and Congress don’t work something out by then, the government will be unable to borrow money and drastic cuts will be necessary, possibly to essential operations such as Social Security. Because the government continued to pay bills after passing the legal debt limit on May 16, “We’re left running on fumes,” as Treasury Secretary Timothy Geithner recently said.

This crisis situation has got me thinking about how easy it is for my clients – who mostly are owners of mid-sized businesses – to get into the habit of letting similar business spending crises sneak up on them. Like most of America, we pretty much think that something will “work out” at the last minute to keep us from having to default on our business obligations.

If you are one of those business owners who has been lucky enough to have your business running “in the black” instead of “in the red” – I salute you. That’s not always easy to do. If, however, your business is approaching the same state as the U.S. Government is at the moment, then this national crisis could be a good reminder to step back and make some plans about what to do if you were suddenly unable to keep your business going without investing a large chunk of your personal fortune.

Have you ever sat down with your financial or Exit Planning advisor and created a detailed game plan for how you would cut corners if you ran into a “debt crisis” of your own? Have you asked questions like: Which vendors are essential to keeping your business running, and which payments could you delay without adverse effects on your business? If you had to eliminate staff positions, do you know which ones should go first? Do you have sufficient savings to be able to stop paying yourself for a while, in order to salvage the good credit of your business?

These kinds of questions are hard enough to answer when business is fine and you don’t need to economize. But it’s much worse to have to hammer out a game plan for downsizing when you’re facing immediate pressure to cut spending in order to save your business. Hopefully it won’t ever come to that, but unexpected crises do occur.  Maybe the slower pace of summer is a good time to convene your own “Congressional debate” that will result in a reasonable, well considered contingency plan for your business. (By the way, showing you have a strong emergency plan in place is something that will add value to your business in the future when you are showing it to prospective buyers and negotiating the sale of your business.)

If you’ve decided to sell your business, it’s likely because you’re ready to move on.  Maybe into retirement, maybe into a new business or personal venture that sounds exciting to you.  Maybe the economy or other factors beyond your control have caused your business to no longer be profitable enough to support your lifestyle goals.  In all these cases, you probably don’t want to wait longer than you have to before divesting yourself of your responsibilities.

This desire to get rid of your business as quickly as possible is understandable, but it can lead to mistakes that can cost you hugely.  One of the most common mistakes I see when people sell their business is jumping at the first offer that sounds reasonable.  If you have a range in mind of what you want to realize financially from the sale, and if an affable buyer mentions an offer within that range, why not take the money and run?

Well, are you certain this “perfect” buyer is really who he or she (or “it,” in the case of a corporation) appears to be?  How stable is the financing they bring to the table?  Are they embroiled in legal battles elsewhere that could adversely affect your sale?  Do they have a history of backing out of deals at the last minute?  Have they recently overextended themselves by acquiring too many companies too quickly?

My decades of experience in staging and managing mid-sized business sales have shown me many reasons why having an experienced broker who can “vet” a prospective buyer is invaluable.  You need to know both the right questions to ask – as well as knowing what the right answers are that you should get from the buyer before signing on the dotted line.

Over the 25 years in which we have been in business, Exit Plan Pros has developed a vast proprietary in-house database of qualified buyers and industry contacts that have the required capital, experience, and other attributes necessary to lead to a successful transaction.  We also know how to perform effective industry research to locate other possible buyers. If you want to sell your business to a truly qualified buyer, you owe it to yourself to find the expert help that can ensure the smooth, hassle-free sale of your business.

One of the most important traits for a business owner to have is the ability to look at things from a different perspective than what comes “naturally.”  If you have run a successful business for many years, you likely have cultivated this trait by stopping now and then to step out of the “owner” role and instead consider what your customers or clients want.  What are they looking for?  What are they willing to pay?  What services or goods can you provide for your market, and how can your business create a unique niche in your industry that no one else will fill in quite the same way?

Similarly, you have likely stepped out of the role of “owner” at various times when relating to your employees. You may have asked, “What can I do to keep my best employees happy in their jobs?  What will make this the kind of workplace that good people would want to come to every day?  How can I inspire my staff to do their best work, while offering them job satisfaction and fair compensation?”

Well, if you are now at the stage of life where you are considering retirement or selling your business to move on to something else, you need to tap into that ability to “put yourself in someone else’s shoes” and ask, “What would the optimum buyer for my company want to see when considering my business?”  If you were looking at your own financials, company history, list of clients, physical plant, and so forth, what would convince you that the business was worth acquiring?

Taking the perspective of the buyer may show you things about your own business that you simply haven’t noticed before.  Hopefully, what you see that needs fixing won’t take too much time and effort to clean up, but even if your business needs some work before being really marketable, it’s better to see what’s the reality is than to pretend your business is in better shape than it really is.

After decades of experience staging businesses for sale and negotiating with buyers of medium-sized businesses, I have yet to find a business whose value cannot be increased with some time, effort, and an experienced expert advisor to help the business owner identify the areas that need work.  When you’re talking about increasing the value of your business by hundreds of thousands, or even millions, of dollars, it’s well worth it to take on a different viewpoint than your usual one!

Usually I’m giving reasons to consider selling your business. And yes, that may be what you should be thinking about. But then again, maybe not! Here are three additional reasons (besides the two I mentioned in my last post) why it might be the wrong time to put your business on the market.

Reason 3. Several companies in your industry have recently changed hands. If you know of more than one major competitor in your city who just sold their business, you’ll probably do better to wait a while before looking for a buyer for your business. For one thing, you don’t want your selling price to depend on what the other companies went for. And you probably don’t want to be stuck with the buyers who didn’t bid high enough to win those sales. Concentrate on growing your business so that a year or so from now you’ll be poised to make a much better sale than you could now.

Reason 4. You aren’t sure whether to sell to an outside buyer or keep the business in the family. The differences between these two options are significant, and you need to be confident about your choice. If you’re on the fence about whether to hand your business over to your heirs, you should put on the brakes and find an expert advisor who can help you consider ALL the consequences of both decisions. Delaying your retirement for a year or two is worth it in order to be sure your future financial needs are covered and your family relationships stay intact.

Reason 5. If you’re honest, you know the sale of your business won’t cover your retirement needs. You may be so tired of dealing with your business that you’re willing to take a hit financially, and you say to yourself, “We’ll get by just fine; I can figure out how to make ends meet later on.” But with post-retirement lifespans lasting twenty or thirty years or more for many people, you can’t afford to be cavalier about what you’ll need to fund your desired lifestyle. You can cut down on your active involvement in the business while retaining ownership for long enough to maximize the value of your business and create a wise Exit Strategy with a team of trusted advisors. You owe it to yourself and your family to do so.