Is Your Business Prepared for Your Exit?

LONG ISLAND CHAPTER EVENT

Is Your Business Prepared for Your Exit?


There is basic criteria which must be met in order for a business owner’s exit to be successful. The owner’s needs and goals must be accounted for and must be met upon exit. The market must be favorable so that there are willing buyers. However, before an exit can come to fruition, the business itself must be ready for transition.

 

Learning Objectives:

This workshop will focus on basic, relatively easy issues all owners must address well in advance of sale to prevent a business from being completely unprepared, such as:

  • Obtaining and reviewing basic ownership documents for the business and all assets used in connection with the business. This should be done on a regular basis, but most importantly in advance of a sale. Owners often take these things for granted and leave them until the last minute.
  • Reviewing personal liability of the business owner. A lease guaranty, a personal guarantee on a credit card, or any other personally guaranteed obligation can hold up a sale.
  • Ascertaining required consents of third parties. Some owners do not even know that these clauses are in their agreements. It is important to take an inventory of all agreements which are binding on the company and address the need for third party consents. We will discuss some commonly encountered issues with this.

Sometimes it is helpful to take a “walk before you run” approach in preparing for a sale, so that avoidable delays are in fact avoided.

 

About the Presenter:

Hear from industry expert Joseph G. Milizio on the basic issues that affect exiting business owners.

 

Registration is free. Thank you to our sponsors:

 

This meeting will be held at Vishnick McGovern Milizio LLP.

Address: 3000 Marcus Ave., Suite 1E9, Lake Success, NY 11042

 

EXIT PLANNING IS GOOD BUSINESS STRATEGY

The EPI Local Chapter is different than other groups because it brings together a diverse group of professionals from a wide range of specialties that can naturally work collaboratively on exit planning, succession planning, value growth, transaction or any engagement from both sides of the equation. The chapter meets regularly to network, reconnect, grow knowledge, and sharpen their skills with a common goal: Change the outcome for transitioning business owners. Make plans to join us for future events and connect with the local leadership by visiting www.EPILongIsland.com.

About the Presenter


Joseph G. Milizio

Joseph G. Milizio

ESQ

Meet Joseph G. Milizio

Managing Partner Joseph G. Milizio leads the firm’s Business and Transactional Law, Exit Planning for Business Owners and LGBT Representation Practice Groups. He is a key member of the VMM Family Institute.Mr. Milizio has significant experience in all areas of transactional law, with an emphasis in general business transactions including acquisitions, sales, entity and owner representation, franchising, leasing and transactional real estate matters. He represents a wide range of businesses, including retailers, manufacturers, real estate entities, healthcare providers and other professional practices.

His diverse corporate and real estate finance experience includes the representation of both borrowers and lenders. He regularly advises clients on corporate governance matters, dispute resolution and estate planning for business owners. Under the auspices of the firm’s Exit Planning for Business Owners Practice Group, he works with business owners and other advisors as a consultant and legal advisor in planning for and implementing exit strategies. Mr. Milizio is a founding steering committee member of the Long Island Chapter of the international Exit Planning Institute, a forum where local professional advisors can collaborate; develop educational programs for business owners and professional advisors to build awareness and better prepare an owner for the successful exit of their business; encourage and foster the adoption of best practices for the exit planning profession; and promote the common business interests of those business advisors engaged in the profession of exit planning.

Continuing Education


One (1) CPE hour

One (1) CFP® credit (pending approval)

*Proper documentation must be collected and submitted to qualify for continuing education.

cpe-logo-png-full-colorThe Exit Planning Institute (EPI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website at: www.learningmarketing.org.