Q: What is The Legacy Hand-Off™?

A: The Legacy Hand-Off™ is a Seven Step process that was developed by J. David Briggs, founder of The Colorado Financial Group, in conjunction with John Brown, founder of Business Enterprise Institute, in order to help the owners of closely held and family businesses develop and implement exit strategies.

Q: Why does a business owner need an Exit Strategy?

A: For most people, the only two certainties in life are death and taxes. But, if you are a business owner, there is one other certainty to worry about…the fact that you will inevitably leave your business, either voluntarily or otherwise. Having a well thought out exit strategy in place will help ensure that you leave your life’s work on your terms, whether that exit involves a sale to an outside third party, or a transfer of ownership to family members or other insiders.

Q: How do I know if I need the Legacy Hand-Off™?

A: If you are like most business owners, you don’t have a written exit plan, and each of your current advisors is involved in one aspect of your financial life. Your insurance agent is trying to sell you an insurance policy, your investment advisor is trying to maximize your stock portfolio, and your CPA is trying to minimize your tax liabilities. We find that the most effective strategies often include partnering with specialists such as attorneys, investment advisors and life insurance agents that are directed to achieve the same end objective, rather than doing their own “thing” in the absence of an overall plan.

Q: I already have an accountant, attorney, financial professional, etc… Why do I need another advisor?

A: We at the Colorado Financial Group, Inc. specialize in working with your existing set of advisors to develop a comprehensive business succession plan using the “big picture” approach through our proprietary process called The Legacy Hand-Off™. We synthesize all of the financial aspects of your life into a written plan that is based entirely on your goals and objectives. We track your accomplishments, delineate further actions required to accomplish goals, and create a mechanism for self accountability.

Q: What is the Legacy Hand-Off™ Road Map?

A: Your Legacy Hand-Off™ Road Map is a living, breathing document that:

• Projects income and expenses, with an emphasis on identifying passive sources that will provide retirement income
• Focuses on wealth accumulation, protection and distribution
• Establishes an overall investment strategy and allocation plan (Investment portfolio, real-estate, business ownership, etc.)
• Identifies insurance protection needs and develops a risk management strategy
• Ensures that wills, trusts, and estate planning are in place and agree with your stated goals and objectives.
• Develops and implements your business succession strategy
• Includes an action plan road map that describes “how we get there from here”
  

Q: What fees are associated with the Legacy Hand-Off™?

A: The Legacy Hand-Off™ process is comprised of three distinct phases: Engagement, Analysis, and Implementation. The fees associated with each phase are individualized for each client based on the complexity and depth of the case. Fees are agreed upon and assessed prior to beginning each phase. As always, initial consultation is complimentary and results in no obligation.

Q: How can I begin the Legacy Hand-Off™ process?

A: Call the Colorado Financial Group at (800) 635-1137 to schedule a no cost, no obligation consultation. We look forward to hearing from you!

Q: What does the wheat in the logo symbolize?

A: The golden wheat in our logo symbolizes how we view the backbone of America – our small businesses. The agrarian roots of our country run deep and proud through our land. Many modern day successful entrepreneurs trace their first enterprises to the family farm. Others have stories of immigrant ancestors digging deep into the soil of a new country to form not only a better life, but also hope for a brighter future. Not unlike farming, our modern day businesses plant an idea; tend to its growth through hard work and incredible risk, then when it’s time – bundle it and take it to market.