Summary
The article urges business owners to begin planning their sale well before they intend to exit—ideally, 2 to 5 years ahead. Early planning gives sellers flexibility to align tax strategies, estate planning, family priorities, and investment goals before a buyer enters the picture, reducing risks and unnecessary costs. Waiting until negotiations or a letter of intent narrows options, potentially raising taxes and forcing rushed decisions. Owners should clarify financial readiness, model valuation scenarios, assemble advisers early, and consider legacy and post-sale life. Proactive preparation increases confidence, preserves wealth, and helps ensure a smooth transition with long-term security.
Kiplinger
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