Business Succession
Plan for a bright future with business succession strategies.
Take care of what you’ve built
One of the keys to your business’s longevity is ensuring a smooth transition of ownership during your lifetime or at death. Without an agreement between the current owners, you may risk the business being owned by an unqualified person or even perhaps a competitor. Proper planning can help business owners maintain control when a change of ownership becomes necessary.
Let us help you plan with:
- Exit Strategy: A comprehensive lifetime plan that establishes your retirement plan, arranges for a business succession plan, and incorporates both these strategies into your estate plan.
A succession plan identifies who will take the reins and when, and outline interim measures to ensure the successor is ready to take over. An exit strategy outlines how the business will be transferred to another third party such as an acquirer.
- Business Continuation Strategy: A comprehensive plan that includes the purchase of life insurance for each business owner and a Buy-Sell Agreement that, upon the death, disability, or retirement of an owner, identifies the purchaser of the business, price and terms of the sale in addition to providing cash values or death benefits as specified in the agreement.
- Key Person Insurance: A cost-effective way to ensure your business will have the necessary funds to replace a key individual who passes away, protect the business from any resulting monetary loss, or finance succession and estate plans.
Ready to learn more?
Our Wealth Management experts are ready to chat.
First Hawaiian Bank’s Wealth Management Group provides investment advice and financial products and services through First Hawaiian Bank. First Hawaiian Bank does not provide tax or legal advice.
| Investments, annuity, and insurance products are: NOT INSURED BY FDIC OR ANY GOVERNMENT AGENCY • MAY LOSE VALUE • NOT A DEPOSIT • NOT GUARANTEED BY FIRST HAWAIIAN BANK |
| The insurance and annuity products are obligations of the insurance company and (i) are not insured by the FDIC or any other agency of the United States; and (ii) are not deposits or other obligations of, or guaranteed or insured by, First Hawaiian Bank or any of its affiliates. For certain cash value life insurance products there is investment risk, including the possible loss of value. |