Who'll step up when you step down? If you're over fifty and running a privately owned business in Canada, chances are, you can't answer that question.A RoyNat research study has shown that more than 80% of private business owners are ignoring or avoiding the question of succession even though half of them will step down over the next 10 years. As a group they have traditionally found it difficult to face retirement and pass on to others what they have built. They delay, often at severe costs to themselves and sometimes to the detriment Any loss or harm to a person or property; relinquishment of a legal right, benefit, or something of value. Detriment is most frequently applied to contract formation, since it is an essential element of consideration, which is a prerequisite of a legally enforceable contract. of an orderly orderly /or·der·ly/ (or´der-le) an attendant in a hospital who works under the direction of a nurse. or·der·ly n. An attendant in a hospital. transfer of ownership. In contrast, a well crafted business and Succession Financing plan allows owners to take all or part of their equity years in advance of retirement while maintaining control and preparing the ground for the next generation of owners or managers. A Succession Financing plans says how and when owners can be paid out. It answers tax questions. It protects against the unforeseen, such as illness, disability, divorce, or share holder disputes, and builds a solid foundation for a company's future. The deepest pitfall pit·fall n. 1. An unapparent source of trouble or danger; a hidden hazard: "potential pitfalls stemming from their optimistic inflation assumptions" New York Times. is starting late. Talk to RoyNat about Succession Financing and make time your ally. ROYNAT CAPITAL MORE THAN MONEY NORTHERN ONTARIO Northern Ontario is the part of the province of Ontario which lies north of Lake Huron (including Georgian Bay), the French River and Lake Nipissing. Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it (705)673-3621 www.roynat.com Normand C. Mounier - Director Denis Denis, king of Portugal: see Diniz. Goupil - Senior Associate |
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