Business Financial Planning Services Benefits

Business Planning

From day-to-day business decisions, to the challenges of competing and thriving in today’s global, “always-on” marketplace, our clients rely on us for comprehensive and integrated solutions. 

We provide creative insights and strategies business financial planning services that increase the value of business holdings, regardless of industry conditions or economic cycles. 

At Wealth Legacy Group, we are proud to offer the highest quality personal financial planning service with an outstanding team support to all of our clients. R. J. Kelly has been in the financial services industry since 1977. He is a Chartered Life Underwriter, Chartered Financial Consultant and Retirement Income Certified Professional®, has a Masters in Financial Services with an emphasis in taxation, and is an Investment Advisor Representative of Wealth Legacy Group®, Inc., a Registered Investment Advisor.

Buy-Sell Agreement Planning:

A buy-sell agreement can be thought of as a “prenuptial agreement” for the business.  It establishes what happens if a co-owner leaves the “business marriage.”  It can be used for nearly any type of entity, i.e., a corporation, limited liability company or partnership, and is crucial, and commonly underutilized, for businesses with two or more owners.    

We often find that businesses do not have a buy-sell agreement or funding or there is out-of-date language. Buy-sell agreements must be carefully drafted to take into account unique circumstances.  Wealth Legacy Group® wants to make sure your business transition is smoothly conducted and well handled.

Read more on Buy-Sell Agreements 

Succession Planning:

Although most of our clients are successful entrepreneurs, they usually do not have a specific business succession strategy in place and do not know how to even begin the process. Business succession is a complicated and lengthy process that needs to be handled with expert care and attention. That’s where we come in. We have plenty of experience and knowledge in helping business owners develop an exit strategy plan to transfer their business sometime in the future. Whether you desire to sell or transfer the business to your business partner, children, or a third party, we are here to assist you in covering all of the many details that need to be addressed in the buy-sell agreement and the process in general.

Tax Planning For Businesses:

Paying too much in business taxes or setting the stage for higher estate taxes for your heirs? Let us review your business tax situation. Or perhaps convert ‘involuntary philanthropy’ (i.e. taxes) to ‘voluntary philanthropy’ through charitable planning.

Capital gains taxes are … wait for it … voluntary. Federal estate taxes are … voluntary.

Gift tax, and so forth are … voluntary. You don’t have to pay them as long as you support the social well-being of the country in a way that is, as said, in alignment with what is important to you … which could be your own family foundation.

Are you taking advantage of the opportunities to opt out of the “involuntary philanthropy”? You can direct the money you would have paid in these taxes towards “voluntary philanthropy”… supporting those organizations, causes and missions that you feel can make the best impact on the lives of other Americans.

“Zero tax planning” approach is simply utilizing the rules that are already in the tax law, but which only a fraction of advisors discuss with their clients, and even fewer clients are aware that these opportunities exist.

Insurance Planning and Overview:

Business insurance is one of the best ways to protect yourself, key person insurance and your business from unexpected losses. We review your business insurance policies to ensure that you have the correct types of coverage in place for your unique situation… including life, long term care, disability, critical illness and umbrella liability coverage. Additionally, we help minimize health insurance costs for your business as well as worker’s compensation insurance.

We analyze the benefit of keeping long-held existing coverage vs. exchanging for newer, more efficient contracts, or selling your contract(s) on the secondary market for cash … even if you only have term life insurance in effect.

We can help you explore the benefit of utilizing a “Private Placement” insurance contract – either domestic or international – and its application as a “wrapper” for holding current or future personal investments such as stocks, bonds, mutual funds and even real estate. In addition to providing a tax-free environment for appreciation of assets, there can be substantial asset protection benefits provided through this structure.

R. J. Kelly holds resident insurance license number #0697059 (DBA Wealth Legacy Insurance Services) in the state of California as well non-resident insurance licenses in a number of different states. He is an independent agent contracted with a variety of well-respected insurance carriers.

4540 Kearny Villa Road
Suite 114
San Diego, CA 92123
Office: (858) 569-0633
Fax: (858) 333-4942