A Conversation with DGIM Law Partner Monique Hayes

Monique Hayes, a partner for DGIM Law and an adjunct professor for the University of Miami School of Law, says that people often assume that the due diligence process ahead of a business sale or a similar liquidity event is of significantly more importance for the buyer than the seller.

After all, buyers put up a pile of cash or other valuable assets to gain ownership of the business, from which they hope to derive commensurate value over the long term. Sellers, on the other hand, get to walk away from the deal having monetized years or even decades of hard work — perhaps entering retirement or simply moving on to the next big thing.

The reality, as Hayes shares on the latest episode of the Ask the Retirement Expert podcast series, looks a lot different. In some big ways, she tells podcast host John Manganaro, the presale due diligence process is equally or more important on the sell-side as it is on the buy-side. Increasingly, people want to make sure their legacy remains intact once they walk away.

Other topics discussed during the episode include:

• What retirement means (and doesn’t mean) for entrepreneurs.
• The benefits and pitfalls of inheriting a family business.
• The importance of bankruptcy proceedings for the U.S. economy and more.

To listen to the previous episode, click here.

To listen to additional podcasts within the Ask the Retirement Expert series, click here.