A business today may be in serious trouble if it loses one of its key employees. The loss of these employees could be from a variety of sources: accident, illness, death, or leaving to work with a competitor. Proper planning is a necessity in order to retain these key employees while, at the same time, staying true to corporate financial directives.
Hill, Chesson & Woody can provide solutions that could fund the business during the period of time in which a suitable replacement is found; or it could provide liquidity for surviving partners to purchase a deceased partner’s portion of the business from his/her estate. Hill, Chesson & Woody can also help a business retain key employees by designing, implementing, and administering cost efficient and effective executive benefit plans that supplement restrictive qualified retirement and group insurance plans. While staying within the context of the businesses overall corporate financial goals, our plans are designed to ensure that, no matter what uncertainty lies in front of your business, the business will remain and prosper.