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What We Do For Businesses

Planning for long term business success.

401k Analysis, Planning, & Implementation

Does your organization currently have a retirement plan? Have you had your plan benchmarked in the last year? What primary goals are you hoping to accomplish with your company retirement plan?

The Legend 401(k) was developed to simplify retirement plans for small to medium sized companies. Our strategy allows business owners to easily provide a valuable benefit to owners and key employees, reduce taxes, retain employees, and improve employee retirement readiness while limiting administrative burdens and minimizing fiduciary liability. There are no upfront costs for a start-up plan with less than 25 employees and a wide variety of mutual fund investment choices and other benefits.

Key Person Insurance

Will your business take a loss if a key employee dies or becomes disabled? A well structured Keyman plan can protect the business from an unexpected loss.

Legacy Planning

Are you setting money aside to leave to your children? Most parents have a predetermined amount set side to leave to their heirs. The problem is, parents may need that money during their lifetime. Proper planning can use a portion of the safe money to purchase an insurance policy to help ensure you will have a nest egg to pass to your heirs.

Business Succession

Most business owners feel planning for a transition of their business at death is key. The reality is, a transition during your lifetime is more likely. Important planning includes how your business transition will impact your retirement.

Make sure your buy-sell agreement is a properly funded.

A well-drafted agreement will:

  1. Identify a buyer and fair price.
  2. List who will take control.
  3. Protect employees, customers, suppliers, and creditors during your transition.

Executive Bonus Plans

IRS code 162 allows a business to bonus an employee and deduct the bonus.

The employee can then choose to set up a retirement plan using life insurance. A plan that self completes if the employee dies before retirement, or using the cash value of the insurance can supplement other retirement plans.

Buy-Sell Agreements

Why leave your business to chance? Do you know what its worth? Will an unexpected event leave you or your successors frustrated if your stated company value is either more or less than its actual value? It’s important to tie it all together for a smooth transition.

A buy-sell agreement that reflects your current financials means everyone can be happy:

  1. Retiring or exiting owners/heirs get a fair value for their share of the business.
  2. Remaining owners don’t over-pay or under-pay the exiting owners/heirs.
  3. Sellers are more likely to receive fair market value.
  4. You may avoid costly delays and arguments among owners.