Helping Families Work Together1

Frank and Carolyn needed a plan to transition their floral business to their daughter and give equal share of their assets to their two sons.

See their plan

After working for twenty years to build their regional floral business, Frank and Carolyn Lewis needed help developing a plan to transition the business to their daughter. At the same time, they wanted to pass an equivalent share of their assets on to each of their two sons who were not involved with the company.

Fifth Third Private Bank worked with them to develop a comprehensive business succession plan and reconfigure their investment portfolio so they could transfer a portion of it to their two sons over time, thereby minimizing unwanted consequences.1 Working with Fifth Third Private Bank, the Lewises are making their business succession plan and their family legacy goals a reality.

 

We can help you create a business succession or exit strategy that sets you–and your business–up for success.

You've worked hard to build your business. You now may be thinking about enjoying a new stage in your life. Fifth Third Private Bank can help you plan for transitioning your business to a new owner or family member and create an exit plan so that you can confidently pass on your business and ensure its success.

There are many options for transitioning your business. We'll get creative to find the right one for you.

We can discuss your options, including maintaining control until a specified trigger event occurs, and take you through the pros and cons of each option.

Should you sell your business outright, transfer your interest, or create a family limited partnership? If you are passing the business to some, but not all of your children, we can assist you with strategies to create an equitable estate plan. We can also assist you in addressing other concerns, such as the welfare of your employees.

 Disclosures

  1. The circumstances surrounding this case study are representative of actual clients of Fifth Third Bank Investment Advisors. To ensure the privacy of our clients, the names and some of the facts have been changed. Recommendations and their results may vary with each client based on their current financial picture and goals. There are no guarantees that any strategy described will perform as expected. Investment results cannot be predicted or forecasted and will vary depending on market conditions.

The information contained herein is for information purposes only, is not designed to address your financial situation or particular needs and does not constitute the rendering of tax or legal advice. You should consult with your tax advisor or attorney for advice pertinent to your personal situation.

Asset Allocation, Alternative Investment and Hedging/Diversification strategies are intended to mitigate the overall risk within your portfolio. Some strategies may be subject to a higher degree of market risk than others. An investor should understand the costs, cash flows and risks inherent in a strategy prior to making any investment decision. There are no guarantees that any strategy presented will perform as intended.

Fifth Third Private Bank is a division of Fifth Third Bank offering banking, investment and insurance products and services. Fifth Third Bancorp provides access to investments and investment services through various subsidiaries, including Fifth Third Securities. Fifth Third Securities is the trade name used by Fifth Third Securities, Inc., member FINRA/SIPC, a registered broker-dealer and registered investment advisor. Registration does not imply a certain level of skill or training.

Investments, investment services and insurance:
Are Not FDIC Insured Offer No Bank Guarantee May Lose Value
Are Not Insured by any Federal Government Agency Are Not a Deposit

Insurance products made available through Fifth Third Insurance Agency, Inc.