Services
Coordinate the company’s retirement plan, protection, and succession with the owner’s personal plan, so the business builds wealth outside itself as well as inside.
For most owners, the company is where the wealth is, where the income comes from, and where the family’s risk is concentrated. Personal planning that ignores the business is incomplete, and business decisions made without the personal plan in view, such as what to pay yourself, what plan to offer employees, or what happens if a partner dies, tend to be made under pressure.
Palm Coast helps owners in the Conejo Valley and surrounding communities plan across both sides at once: the retirement plan the company sponsors, the insurance that protects it, the agreements that govern ownership, and the personal wealth being built outside the business. The guide to wealth management for business owners sets out the thinking in more detail.
What the work covers
SEP and SIMPLE IRAs, solo and safe-harbor 401(k)s, and cash balance plans differ in contribution limits, cost, and who benefits. California now requires most employers without a plan to register for CalSavers, which makes the choice of plan a decision every owner has to make.
If an owner or key employee dies or becomes disabled, the business needs cash and the family needs a buyer. Buy-sell agreements funded with insurance, and key-person coverage, are reviewed for whether they exist, whether they are funded, and whether the valuation formula still makes sense.
How much to pay yourself, in salary versus distributions, how much to leave in the company, and how much to move into personal investments each year are decisions with tax, retirement, and risk consequences, coordinated with your CPA.
Entity structure, liability coverage, personal guarantees, and the share of net worth tied up in the company are examined together, so a problem in the business does not automatically become a problem for the household.
How Palm Coast approaches it
We lay out the personal balance sheet and the business side by side: what the company is worth and what it pays, what the household owns apart from it, and where the two depend on each other.
Missing or unfunded agreements, an absent or unsuitable retirement plan, thin liability coverage, and undiversified wealth are addressed in priority order, with your CPA and attorney involved where their expertise applies.
A yearly rhythm moves a deliberate amount from the business into personal, diversified assets and retirement accounts, so retirement does not depend entirely on a sale. When a sale or succession approaches, this work becomes exit planning.
This work is for owners of closely held companies, professional practices, and partnerships in Westlake Village, the Conejo Valley, and nearby communities, whether they have employees or not, and especially for owners whose personal wealth is largely inside the business. It is a natural starting point for owners several years away from any thought of selling.
Palm Coast does not prepare business or personal tax returns, draft agreements, or value companies for transactions; we coordinate with your CPA, attorney, and other advisors. For owners approaching a sale or transfer, see exit planning. For the coverage side, see insurance planning.
It depends on the number and ages of employees, how much the owners want to contribute for themselves, how much the company can afford to contribute for staff, and how much administration is acceptable. A SEP IRA is simple and flexible, a 401(k) allows larger employee deferrals and Roth options, and a cash balance plan can allow very large deductible contributions for owners near retirement. Palm Coast compares the options against your goals and coordinates the tax analysis with your CPA.
California requires employers with at least one eligible employee that do not sponsor a retirement plan to register for CalSavers, the state-run automatic IRA program, or to face penalties. Offering your own plan satisfies the mandate and often serves owners better. The registration deadlines have now passed for employers of every size, so any employer without a plan should act.
Yes. A buy-sell agreement is for the events you cannot control: death, disability, divorce, or a partner wanting out. It sets who buys, at what price, and with what money. Agreements that exist on paper but are unfunded, or that carry a valuation formula written years ago, are common and worth revisiting.
Enough that the household’s retirement and security do not depend entirely on selling the company at a good price at the right time. There is no fixed ratio; the answer depends on the business’s stability, the owner’s timeline, and the family’s needs. Palm Coast sets a target and a yearly plan to move toward it.
Insights
Business Owner Planning
Wealth planning guidance for Westlake Village business owners coordinating liquidity, diversification, retirement, taxes, succession, and legacy decisions.
Business Owner Retirement Planning
A business can be a powerful part of retirement planning, but owners need personal wealth, tax, and exit strategies beyond the company itself.
Business Sale Planning
Why business owners and families may want to evaluate premium finance life insurance after a sale or major liquidity event.
These official resources support the general educational context on this page. They are not endorsements of Palm Coast Wealth Management.
Use the secure meeting form to tell Palm Coast what you are coordinating. Do not include account numbers or other sensitive financial information.
