Here at Legacy & Wealth Professionals, we offer a wide array of services to help business owners address their financial needs at every stage of the business life cycle. Taking into account their personal values and financial goals, we create and execute customized plans to help entrepreneurs meet their objectives. Some of our key services are detailed below.

Executive Benefits

The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Succession Planning

Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key Person Insurance

Key person life insurance offers a death benefit that indemnifies an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to recruit and develop a replacement for the employee.

Buy-Sell Agreements

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Deferred Compensation

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

The Life Plan Process

Life plan for your business is an exclusive process used only by member agents of The Nautilus Group®, a service of New York Life Insurance Company. The principal strategy behind Life plan is to be able to provide the small business owner with tools that focus around growth, risk management and profitability. Through Jeffrey's membership in the Nautilus Group®, Legacy & Wealth Professionals is able to provide you with proven ways to look at your business and turn risk into opportunities.


Step One: Project Your Goals

In order to get started with Life plan it is critical first to project your goals. We have created a very simple, 10 question scorecard that will help identify areas that can turn risk into opportunity on topics like diversity of assets, dependence, and protection. The goal is to identify the value drivers of your business, enhance the areas where you already excel, and look for opportunities that can help grow your bottom line.


Step Two: Needs Analysis

The next step in Life plan is to perform a very simple needs analysis – the purpose of the needs analysis is to answer a very simple question that will one day be of paramount importance to you: If you sold today is it enough? Our simple needs analysis will provide you based on your projections how you much money you can expect each year in retirement once you leave the business. This analysis becomes the starting point on how Legacy & Wealth Professionals can help you plan to leave your business on your terms.


Step Three: Business Valuation

 After running an analysis of how much you think the business is worth the next step in proper Life planning is to value your business. A business valuation is a critical step that can establish a baseline of value that can allow us to determine if there is a gap between what you thought the business is worth and now what we know to be its actual value. The purpose of a business valuation is to get some critical business succession and protection mechanisms in place to ensure your business can continue to flourish and grow.

Step Four: Marketability Assessment

After the valuation has been completed it is time to define how we can improve the value of the business and how we go about doing this. We have created a marketability assessment that looks at the key risk, growth and profitability aspects of your business. This assessment is very similar to the key points of your business that a firm performing due diligence would look at prior to purchase. We have learned that in order to fix a problem in your business you have to know that one exists. This simple process, starting with some basic questions and doing a careful look at your last 3-5 years financials gives Legacy & Wealth Professionals the tools to determine what areas of improvement will give you the best value for your time and money.

Step Five: Design Optimal Solutions

In having a business valuation or marketability assessment completed Legacy & Wealth Professionals now has an excellent understanding of the value drivers of your business. We can come up with some suggestions on business solutions that might work best for your business based on best practices in your industry. The next step is to work on creating solutions that can maximize value and minimize your time wondering “am I doing the best I can for my family and my business”. Legacy & Wealth Professionals has a team of attorneys and financial professionals at The Nautilus Group® that can help design these state of the art solutions for both your business and estate.

Step Six: Implement and Monitor Plan

The last step in the Life plan is to implement and monitor your plan. The goal is to have a comprehensive plan in place that will cover you for all the unforeseen events that can happen in both business and life. We will look at all critical aspects of your business like your balance sheet, cash-flow, operational documents etc. and make sure we have a forward looking plan to both protect you and your business for the long haul.


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