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advice on retirement
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Redbeardedfarmer
Posted 3/29/2021 06:52 (#8922367 - in reply to #8921555)
Subject: RE: advice on retirement


under The maple tree
Talk to your attorney, or for a lower cost option talk to your extension service and see if they have a succession program with consultants who can help you figure out the process, and only pay legal rates for what needs a lawyer.

Based on above, I think what you are saying is that you could forgo your salary and accept payment for your interest in the company over a period of time or in the future.

Based on this, if it were me, I would propose the following

1) phased retirement over 1-3 years to allow your brother to implement a different labor plan. Each year you reduce your hours.
2) allow your brother to buy your shares over an extended period to get you cashed out in 5-10 years.
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