Property & Casualty Insurance

Executive and Owner Risk Management

Every business is unique and so are the issues and opportunities it encounters. Often, we get so wrapped up in our business operations, we delay addressing issues and opportunities that can affect business owners and executives, which can in turn, affect the business.

Transition Planning

• Do you have a buy/sell agreement in place? If so, when was the last time an expert reviewed it?
  
• Will you incur any estate taxes? Have you planned for this?
• Do you need to use the sale of your business for retirement income?

Transition planning can have a tremendous impact on your business as it aims to ensure that your company will be able to carry out missions and meet company goals in the future—even after you’ve transitioned away. While there is no tried and true way to go about creating your transition plan, there are a number of critical steps you can take to organize the process, which is where LMC can help.

• Business Valuation
• Buy/Sell Agreements
• Tax Reduction Strategies
• Estate Planning

Executive Benefits

• Do you have difficulty retaining employees?
  
• Would you incur losses if a key employee departed unexpectedly?
• Does your current employee benefits program adequately provide life and disability coverage for your executives?
• Are your executives looking for other tax-deferred savings vehicles after maxing out their contribution to your company's retirement plan?

Executive benefits are designed to provide your top employees with a higher level of benefits and compensation, especially since 401(k)s restrict the amount of money an individual can contribute on a tax-favored basis. Executive benefits can be designed to provide tax advantages for both employers and employees.

• Non-qualified Deferred Compensation Plans
• Vesting Strategies
• Executive Bonus Plans
• Split Dollar Plans
• Supplemental Disability Income Plans