The Estate & Asset Protection Law Firm Founder, Victoria L Collier, Talks To Business Owners Who Haven’t Planned What They’ll Do With Their Businesses
Estate & Asset Protection Attorney, Victoria Collier addresses business owners with statistics that just might snap some of them to attention and to planning for their exit strategies before it’s too late and they lose their life’s work.
DECATUR, GA, October 28, 2019: Victoria L. Collier, founder of The Estate & Asset Protection Law Firm, has posted a new blog on her law firm’s website entitled “The Business Plan For Getting Out Of Business,” in which Ms. Collier highlights some pretty astounding statistics.
Collier writes, “If you’re a business owner, like I am, your dream was to create a business that would provide for your family and provide you with meaningful work.” She adds, “Perhaps you worked your whole life to build your business. But, here’s a question for you. Have you put a plan in place for when you want to get out of business?” She states, “Based on statistics, my bet is that you haven’t. Don’t worry, you’re not alone!”
According to Collier, “Today, 63% of businesses in the U.S. are owned by Baby Boomers. 76% of those business owners will be looking to get out of their businesses in the next 10 years, because the average Baby Boomer is 62 years old. That represents 4.5 million businesses.” “And,” says Collier, “the sad news is that 66% of these business owners have no transition plan. In fact, they don’t even know what their options are.”
“Many business owners just assume one of their kids will take over the business or that they will be able to sell the business,” says Collier. She adds, “However, 70 – 80% of businesses that are put on the market don’t sell. So their owners end up with little to nothing to show for their hard work that was meant to be a legacy.”
The entire blog can be read at https://www.elderlawgeorgia.com/blog/the-business-plan-for-getting-out-of-business/
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of seniors when their health care needs increase. Victoria is also Co-Founder of Collier Scott Financial Solutions, LLC. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier has grown her law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.