Many people come to us seeking guidance
on concerns and questions such as:
Is building financial security for your children and generations to come a dream of yours?
Are you looking to grow your money in tax-efficient ways?
Is your business income protected in the event you die or become disabled?
Is your primary focus on growing the business or getting out of the business?
Is there a formal business succession plan? Is it written, and is it fully funded?
Here at Darinka Lora-Stepan and Associates, we offer a wide array of services to help business owners address their financial needs at every stage of the business life cycle. We recognize and respect the challenge of building a growing, thriving business, and we're to help you navigate the complexity that success brings. Taking into account their personal values and financial goals, we create and execute customized strategies to help entrepreneurs meet their objectives and plan for the future. Some of our key services are detailed below.
Protection
Key Person Insurance
Key person life insurance offers a death benefit that helps indemnify 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 assist with recruiting and developing a replacement for the diseased employee.
Accumulation
Executive Benefits
The success of most businesses is tied in to 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 funding non-qualified plans, supplemental employee retirement plans, split dollar arrangements, and more.
Funding Deferred Compensation
Deferred compensation is a written agreement between an employer and an employee in which the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed to them at a predetermined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees. I can provide funding strategies for deferred compensation
Distribution
Succession Planning
Succession planning allows owners to retire from their business within their own time frame, while preparing for the 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. I can provide financial strategies for succession planning.
Funding 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 help ensure that the arrangement is properly funded so that there will be money if the event occurs due to the death of an owner.