Business owners
When most of your net worth is one asset that also employs you, personal and business planning are the same conversation.
What we usually find
- Concentration risk that would be considered unacceptable in any portfolio.
- A buy sell agreement that exists but is unfunded or reflects an outdated valuation.
- Retirement savings deferred because capital kept going back into the company.
- Key person exposure that has never been quantified.
- No documented plan for a sudden disability or death of the owner.
- Entity structure chosen years ago and never revisited as the business changed.
The two timelines
Owners are managing two timelines simultaneously. The business timeline runs on operations, growth and eventually transition. The personal timeline runs on income needs, protection and legacy objectives that continue regardless of what the business does.
Planning that treats these separately tends to produce a strong company and an underprepared owner, or the reverse.
Relevant strategies
Business exit planning
Preparing for a sale or transition long before a transaction is arranged.
Read moreAsset protection
Separating personal exposure from business exposure.
Read moreLife insurance strategies
Funding buy sell agreements and key person coverage.
Read moreLegacy and transfer
Deciding how the business and other assets move to the next generation.
Read moreImportant disclosure
This page is general education, not legal, tax or investment advice, and not a recommendation of any specific product. Individual circumstances differ. Work with your own licensed legal and tax professionals before acting.
Last reviewed 2026-08-09 by Tim Parnell.
Related
Business exit planning
How owners prepare for a sale or transition, why the planning window closes at the letter of intent, and how exit, tax and personal income planning connect.
Selling a business or asset
Planning for a concentrated liquidity event, including tax exposure, structural options, timing constraints and life after the sale.
Business exit planning checklist
A practical checklist for owners preparing for a sale or transition, covering objectives, tax modeling, business readiness and personal planning.
Capital gains planning
How concentrated capital gains events are analyzed, which approaches are commonly considered, and why timing determines what remains available.