A strategic guide for high-income business owners preparing for what’s next.

Exiting your business is one of the most significant financial and personal decisions you’ll ever make. Whether you’re considering selling, passing it on, or winding down operations, preparation is key.

This checklist outlines the critical steps to help you exit on your terms — with clarity, confidence, and control.

• Clarify your personal goals: retirement, family legacy, new ventures, etc.
• Get a business valuation from a qualified professional.
• Identify your ideal exit path: sale, succession, or internal transition.
• Assemble your advisory team: financial planner, CPA, attorney, M&A advisor.
• Evaluate tax implications of different exit strategies.
• Review and update all legal documents and ownership structures.
• Build a personal financial plan to support life after the business.
• Develop a timeline for transitioning ownership and leadership.
• Communicate with stakeholders – employees, partners, and family.
• Plan for liquidity needs, estate goals, and charitable giving opportunities.

Ready to start planning your ideal exit?

At Forman Investment Services, we help business owners turn complexity into clarity – before, during, and after the transition.

This content was created with the assistance of artificial intelligence (AI). While efforts have been made to ensure the quality and reliability of the content, it is important to note that AI-generated content may not always reflect the most current developments or nuanced human perspectives. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Past performance does not guarantee future results. Changes in tax laws or regulations may occur at any time and could substantially impact your situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors we are not qualified to render advice on tax or legal matters. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

Any opinions are those of Forman Investment Services and not necessarily those of Raymond James. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. Prior to making an investment decision, please consult with your financial advisor about your individual situation.