Ensuring a business legacy can be a complicated undertaking. Family owners often focus on operational matters while ignoring succession planning. At other times, succession planning may be mired in family strife to the detriment of operational success. In fact, inadequate business and succession planning is one of the leading causes of family business failures.
Taxes add yet another level of complexity for family businesses. Compensating owners for services, rent of owners' property, and various other arrangements can trip up business owners. Business succession plans can affect estate tax values. Deferred or uncertain estate tax liability can cause a family business to lose its line of credit, accelerate a long-term loan, or negatively affect a surety bond.
This highly rated program addresses these issues and offers practical tips for counseling clients on business succession and tax challenges. Attended by sophisticated legal practitioners and industry professionals nationwide, this annual program is a go-to resource for family businesses seeking prosperity beyond current owners or business-savvy exit solutions.
- Where Do You Want to Go: Finding Your Process
A discussion about working with families to guide them through transition, helping the senior generation let go and preparing the next generation to maintain and increase family and economic values.
- How to Start Succession Planning, Preparing a Business for Sale, and Buy-Sell Agreement Best Practices
A discussion of key planning activities that will encourage and direct family business owners to initiate planning and best practice protocols. Practical preparation and drafting considerations accomplish the sale of a family business.