(NU) - As a larger proportionof the American population reach-es retirement age, the issues ofwealth transfer and asset manage-ment become even more promi-nent. “The largest transfer of wealthin history is now underway, and itis in the form of established oper-ating businesses owned by BabyBoomers,” according to a whitepaper by C2C Business Strategies,LLC, a business management andconsulting organization specializ-ing in business transitions. Baby boomers and their transi-tion advisors will face several chal-lenges over the next severaldecades. Some tips to make the most ofthe transition include: - Prep work: Many babyboomer business owners have giv-en little or no thought to the tran-sition process, and they may findthemselves unable to sell the busi-ness when they want to. Most fi-nancial consultants recommend alead time of three to five years toprepare a business. Meanwhile, asmore baby boomers seek retire-ment, the surplus of businessesavailable for sale may reduce busi-ness values. - True value: Survey findingsof business owners suggest thatmany overestimate the value of abusiness because they are basingestimates on projections or futureorders rather than the current cashthe business is generating. - Good advice: Baby boomerslooking to sell their business canbenefit from a skilled transition ad-visor to guide and direct theprocess. Advisors can help busi-ness owners decide on a realisticprice and determine a sale structurethat works for both buyers and sell-ers.

As in the case of a real estateagent negotiating a home sale, abusiness advisor will find the rightbuyer for a business and will workwith the buyer and seller until thetransaction is complete. Tips for business owners tohelp ensure a smooth sale include: - Good housekeeping: Makesure all financial information iscurrent and in order. Time is essen-tial once a business-sale transac-tion is underway, so don’t slowdown the process by scramblingfor information. - Flexible financing: Datashow that sellers who accept fi-nancing terms receive, on average,86 percent of their asking price,compared with 70 percent forthose who will only accept cash.An advisor can help sellers evalu-ate financing terms to maximizesale prices. For more information abouttransitioning out of a business, visitrysgp.com.

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