Business Exit Planning
in Kenilworth, IL.
You built something worth selling. Now make the proceeds last.
For most business owners, the sale is the retirement plan. The proceeds have to replace the salary, the benefits, and the income stream you've depended on for decades. That's a high-stakes transition, and it requires more than just a financial advisor who handles 401(k)s.
At our firm, we've guided business owners in Chicago's Northern Suburbs through exits and liquidity events for nearly 50 years. We know the questions to ask before you sign, and the mistakes to avoid after the wire hits.
What this looks like in Kenilworth.
Kenilworth has a high concentration of business owners, many of whom have built companies worth $10 million or more, and business exit planning at this scale requires the most sophisticated tax and estate coordination we undertake. Pre-sale charitable trust strategies, QSBS exclusion analysis, installment sale structures, and the immediate estate planning consequences of a large liquidity event all demand coordination across financial advisor, CPA, estate attorney, and transaction attorney, a coordination role we take seriously for our Kenilworth clients.
The county details.
Cook County business sellers face a tax environment with two important state-level considerations. Illinois taxes capital gains at the flat 4.95% rate with no preferential capital gains treatment, adding to the federal capital gains tax on the full gain. On a $3 million gain, the Illinois tax alone is approximately $148,500. The Illinois estate tax is equally important: business sale proceeds that substantially increase net worth can push a Cook County family well above the $4 million Illinois exemption, making pre- and post-sale estate planning essential. We address both the Illinois capital gains exposure and the post-sale estate tax picture before any deal closes.
Why Kenilworth.
Kenilworth clients typically bring complex financial situations: large taxable estates, concentrated stock positions, multi-generational trusts, and significant real estate holdings. Our estate planning and tax strategy work here focuses on the Illinois estate tax ($4M exemption), ILIT structures, and coordinated wealth transfer across generations.
Things Kenilworth families ask.
Down the shore.
Talk to a Kenilworth
advisor.
One free conversation about business exit planning, at your kitchen table, our Evanston office, or a video call.