Wilmington Trust

Prepping the Princess for the Party: Is Your Business Ready to Sell? Part Five

Moon phases

Sellers Need A Phased Approach to Wealth Planning

This week on “In Process: Conversations about Business in the 21st Century,” we continue with the next podcast in our series dedicated to the topic of preparing your business for sale.

Business owners often consider themselves immortal and are among the worst offenders when it comes to wealth management and estate planning. They’re just so focusing on growing their businesses, they make the mistake of not setting the necessary time aside to address these very important aspects of their lives. 

In the fifth installment of our six-part podcast series, show hosts Evelyn Ashley and John Monahon (of Trusted Counsel) speak with Wilmington Trust’s Jonathan Fitzgerald, vice president and director of wealth and fiduciary planning in the Southeast, about how busy business owners can take a phased approach to wealth planning. Wilmington Trust is one of the largest personal trust providers in the United States.

“We think about business owners in one of three phases,” said Jonathan. “There's the business-capital phase when people are starting their companies―focusing on growth―and really might not be at a point where they're able to pull a lot of cash out of the business. Then there’s the personal-capital phase when the business is running successfully, and owners can start pulling cash out of the company and thinking about diversifying their overall asset picture. Finally, there’s the legacy-capital phase where the company is so successful that business owners focus on passing the wealth that they've generated onto the next generation.”

Needless to say, each phase requires its own set of wealth-planning strategies and tactics in order to successfully take business owners from start-up to their after-business lives.

During the course of the podcast, entrepreneurs, business owners and C-level executives will learn about the:

  • Processes and timelines involved with wealth planning
  • Aspects of family succession planning
  • Importance of wills and trusts
  • The role valuations play in wealth planning
  • The impact of insurance on the planning process
  • Different ways to transfer value outside of the estate
  • Tax changes affecting estate planning

Learn more about the wealth-planning strategies you need before―and after―the sale of a business by streaming the conversation in its entirety in the player below, or download it to your mobile device via iTunes. Don’t miss a single episode, subscribe to our show “In Process Podcast” on iTunes to receive this episode as well as future episodes to your smartphone.

      How's it Looking? The U.S. Economic Outlook for 2018

      2018 Stack of Coins.jpeg

      We recently had the privilege to interview Luke Tilley, Chief Economist of  Wilmington Trust for a new episode of our radio show and podcast In Process: Conversations about Business in the 21st Century. Tilley develops forecasts of the U.S. and international economies, as well as researches, emerging issues to support and enhance the firm's investment strategies.

      We had a lot of questions for him such as what are companies investing in? Are things getting better? Or are we due for another recession? According to Tilley, “Things are getting better. It’s the third longest economic recovery in U.S. history.”

      Business Capital Expenditures

      A key discussion point was regarding business capital expenditures. According to Tilley, "We are expecting stronger capital expenditures in 2018...for the first time during this recovery, companies are really turning to investing in that new piece of equipment or that new software package or that more efficient office space." He noted that business confidence last year really picked up and it is expected to continue. 

      2018 Capital Markets Forecast

      For our business and investor audience, Tilley shared details on Wilmington Trust’s new publication, the 2018 Capital Markets Forecast. It’s centered around three key themes that will be understandable for all investors. Theme one covers the U.S. economy , theme two covers inflation and growth, and lastly theme three covers valuations, yields and volatility.

      According to the report, organic growth is expected to be 2.25% in 2018; fold in the partial impact of the tax reform and Wilmington Trust believes that it would add another 0.5% -0.75% of growth for the year from consumer spending and capital expenditures. 

      Click below for your copy of the new "2018 Capital Markets Report" by Wilmington Trust.

      Listen to the podcast for the full discussion and to learn about:

      •  A quick recap of 2017 and what turned out to be the shock of the year
      • The NEW 2018 Capital Markets Report (FREE Download, compliments of Wilmington Trust)
      • An economist's perspective on Bitcoin
      • Thoughts on consumer debt for 2018

      Stream the conversation in its entirety in the player below, or download it to your mobile device via iTunes. Don’t miss a single episode, subscribe to our podcast show ‘In Process Podcast’ on iTunes to receive this episode as well as future episodes to your smartphone.

      Relevant article 12.17.2017: Chief Economist Luke Tilley comments on the markets and tax reform, in a recent Bloomberg article. Click here to read