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V O L . X X I I N O. V I M A R C H 2 1 , 2 0 1 6 32 W E A LT H M A N A G E M E N T & R E T I R E M E N T F O C U S a tough time with the economy. ose are easier to weather if you have a plan. Other side of it, sometimes it's a hang- ing curveball that you can hit out of the ballpark. For instance, you get an unso- licited off er for your business. You want to be able to make a prudent decision. Plans are best done when things are going well, not when you're in crisis. A plan can take multiple years, especially if you plan to gift shares. MB: Should the plan be treated like a will, where you need to fi le it with your attorney? ST: ere are diff erent documents needed, each with a varying degree of complexity. You might need a share- holder agreement spelling out what hap- pens with a change in ownership. You may have one or more trusts involved. ere's succession planning, retirement planning, fi nancial planning. ey're interrelated. You might need a corporate attorney, an estate planning attorney, a CPA, a wealth manager. You might have an insurance expert and a valua- tion expert. If your business is worth more than $2 million, another important adviser could be an investment banker. MB: How to you work with a team of this size? ST: It's critical for everyone to sit down at the same time, so communication is clear. at way everyone knows about one another's business. You can politely challenge one another. e second critical thing is you need a quarterback — one of those experts needs to be your advocate, the interpreter, the coor- dinator who helps execute the plan. MB. Now for the question on everyone's mind. Donald Trump or Hillary Clinton: Who would be better for investors? ST: It doesn't matter. e factors aff ect- ing the capital markets are so much larger than the person sitting at 1600 Pennsylvania Ave. You have currencies, large economies like China, global inter- est rates, oil prices. All of these factors infl uence capital markets, for better or for worse. e person sitting at the White House has minimal impact. Now, some candidates may have designs that would aff ect certain sectors, pharma- ceuticals or fi nancials. ere they would have an impact. But for the markets overall, it's not a big diff erence. P e T e r Va n A l l e n , M a i n e b i z e d i to r, c a n be r e a ch e d a t P vanal l e n @ mainebiz.biz and @ MainebizEDiTor » C O N T I N U E D F RO M P R E V I O U S PA G E 877.700.6800 | mainecf.org f.org f APRIL 5 Hilton Garden Inn Freeport Downtown 7:30–10:30am SP ONSORED BY For more information contact Rebekah Roy at 207.761.8379 x341 or rroy@mainebiz.biz If you register for a table of 10 people you save 10% off the regular ticket price. Tickets are $30 and include a plated breakfast. R E G I S T E R T O DAY ! mainebiz.biz/WMNLead16 T H I S Y E A R ' S T O P I C PA N E L I S T S Mentoring Leads the Way Impact, Experiences, and Resources for Women in Maine FOLLOW US @MBEVENTS #MBWMNLead16 Lynn Cole Sandra Stone Nancy Strojny

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