Understanding Your Business and Your Goals

Business Planning Concepts Fact Finder

Owner Name: ________________________________________________

Business Name: ________________________________________________

Agents: ________________________________________________

Date: ________________________________________________

M U T U A L T R U S T F I N A N C I A L G R O U P

Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 2 • For producer use only.

— Personal Information —

Children

Child #1 Name:

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Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Occupation: ______________________________________

Child #2 Name:

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Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Occupation: ______________________________________

Child #3 Name:

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Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Occupation: ______________________________________

Child #4 Name:

________________________________________________

Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Occupation: ______________________________________

Business Owner

Name: _______________________________________

Phone: Home __________________________________

Business _________________________________

Mobile _________________________________

Address: _______________________________________

_______________________________________

_______________________________________

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Email Address:

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Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Business Name:

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Spouse

Name: _______________________________________

Phone: Home __________________________________

Business _________________________________

Mobile _________________________________

Address: _______________________________________

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_______________________________________

_______________________________________

Email Address:

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Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Business Name:

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Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 3 • For producer use only.

— General Business Information —

General

Business Name:

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Business Type:

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Business Address:

________________________________________________

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________________________________________________

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Website:

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Number of Employees: ____________________________

Form of Business

Sole Proprietorship Partnership S Corporation

Date Established/State Established In:

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C Corporation Professional Corporation Non-Profi t

Date Incorporated:

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Limited Liability Company Limited Partnership Limited Liability Partnership

Corporate Tax Bracket:

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Ownership

Owner #1 Name: __________________________________

Relationship: __________________________________

Title/Function: __________________________________

Percentage Owned: ________ Compensation: __________

Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Owner #2 Name: __________________________________

Relationship: __________________________________

Title/Function: __________________________________

Percentage Owned: ________ Compensation: __________

Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Owner #3 Name: __________________________________

Relationship: __________________________________

Title/Function: __________________________________

Percentage Owned: ________ Compensation: __________

Date of Birth: _______ / _______ / _______ (mm/dd/yyyy)

Advisors

CPA Name: ______________________________________

Banker: _________________________________________

Financial Planner/Investment Manager:

________________________________________________

Attorney: ________________________________________

Insurance Agent: __________________________________

Other Advisor: ___________________________________

Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 4 • For producer use only.

— Background & Goals —

History

How did you get started in this business? When? What was your motivation?

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How has the business performed versus your original expectations?

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Current Business Situation

How are things going with the business?

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How are you diff erent than your competition? What makes your business successful?

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Do you have a written business plan? Yes No

If so, when was it last updated? _______ / _______ / _______ (mm/dd/yyyy)

Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 5 • For producer use only.

— Background & Goals —(continued)

Concerns

What are your current challenges with the business?

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Business Expectations

Where do you expect the business to be in 5 years? 10 years?

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What is your greatest wish for the business?

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Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 6 • For producer use only.

— Background & Goals —(continued)

Daily Operations

What employees are critical to running the day-to-day operations? Do you think any of these employees would be able to run the busi-ness if you had to leave for an extended period? Are any of these employees family members?

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What do you provide or off er to keep your key people satisfi ed working at the business?

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How do you feel about the benefi ts you off er your employees? How do your employees feel?

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What do you think the business is worth today? How did you determine this amount?

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What is your exit plan from the business? Are there family issues that may aff ect your exit plan? Do you have a succession plan in mind?

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Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 7 • For producer use only.

— Succession Planning —

What would happen to the business or your interest in the business if you were to die, become disabled or retire tomorrow? (Based on the answer, skip to the appropriate section below.)

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Family Continues the Business

Who do you want to own the business? _________________________________________________________________________

Who will run daily business management? ______________________________________________________________________

Do you think the change in management will aff ect your creditors, suppliers and customers? Yes No

How? __________________________________________________________________________________________________

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Does the business have cash reserves to support the transfer of ownership? Yes No

Will the business generate enough income for your family? Yes No

If the business is going to someone other than a surviving spouse, will the newowner or your estate have the resources to pay estate settlement costs on the transfer? Yes No

Do you want to provide for family members not involved in running the business? Yes No

Does your family have a clear understanding of your wishes for the business? Yes No

Does your will spell out your wishes? Yes No

Business To Be Sold

Do you have someone in mind to purchase your interest of the business? Yes No

Is there a formal agreement/plan? Yes No

When was it created? _______ / _______ / _______ (mm/dd/yyyy)

By whom? _______________________________________________________________________________________________

When was it last reviewed? _______ / _______ / _______ (mm/dd/yyyy)

Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 8 • For producer use only.

— Succession Planning —(continued)

How is the agreement funded?

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What are the terms of the agreement?

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When was the last time the business was formally appraised? _______ / _______ / _______ (mm/dd/yyyy)

What was the amount? _____________________________________________________________________________________

If you were to sell your business today, what do you think you could sell it for? __________________________________________

If you don’t have a buyer in mind, could your heirs fi nd a buyer or would the business need to be liquidated?

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Business To Be Liquidated

What assets will be sold for a prime price? What assets will be sold at discount or wholesale?

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How would your family make up for loss of income if the business is liquidated?

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Have you made provisions in your will for the orderly liquidation of the business? Yes No

Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 9 • For producer use only.

— Key Employee —

Key Employees

Whom do you feel is responsible for some/all of the business’s success?

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Which employees are critical for managing day-to-day operations?

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Have you considered the cost and time to fi nd and train a replacement should one of these critical employees stop working in the business?

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Do you have any plans in place (insurance) to protect against these business risks? Yes No

Are there cash reserves suffi cient to cover these costs? Yes No

How would you rate your level of debt? Low Medium High

Are you protected (insured) against any of this debt? Yes No

Form No. 336 (8/13)

M U T U A L T R U S T F I N A N C I A L G R O U P

Business Planning Concepts Fact Finder

Page 10 • For producer use only. • This form does not need to be submitted as part of the application.

— Executive Benefits Planning —

Executive Benefits

Have you put any executive benefi t plans in place to attract, motivate and retain key employees? See list below.

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How do you feel about these programs?

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How do you feel about off ering incentives for employees who help grow the business?

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Is employee turnover a problem? Yes No

Types of Executive Compensation for Employees

Executive Bonus Severance Pay Plan Split Dollar Plan Salary Continuation Plans Deferred Compensation Plans Group Term Carve-Out Stock Option Plan or Other Equity Plans