“There are numerous questions and issues to consider when thinking about selling or transferring your family business to outsiders or to children. There are a lot of parents who have built successful businesses. They’ve put in long hours and have sacrificed a great deal. They are now at the point where they want to scale back and retire. Their concern is that they don’t know how best to transfer the business to their child or children in such a way as to minimize taxes or disrupt the business.”
The preceding quote is an excerpt from an informative article, Business Transition Planning: How to Leave Your Company to Your Children, which was published in the August 11, 2015 edition of Forbes, and which highlights many of the issues we assist our clients in planning for and addressing in order to minimize the burden, maximize the return and minimize the estate, gift and income tax impact to our clients of transitioning their closely-held businesses.
To read the article in its entirety, please click on the following:
If you have any questions about business transition planning, we would encourage you to call or schedule an appointment to visit with us.