Succession Tax Planning - How to Preserve the Family Business
Date
May 16, 2013
The majority of family-owned businesses do not succeed within the family
after the second generation takes over. Several factors contribute to this
phenomenon: unrealistic expectations, the business or industry, family
dynamics, and, above all, poor or non-existent planning for the transition.
This session will highlight some of the key non-tax factors and concentrate
on the various tax planning techniques that can enhance the likelihood of
the succession plan being successful. Specific discussion topics include:
• Identify the various succession planning alternatives
• Review the importance of an “independent” business appraisal
• Discuss the coordination of the succession plan with the business
owners estate plan
• Outline the specific steps for adopting a tax-smart succession plan
• Review important court cases & rulings that may impact succession planning
after the second generation takes over. Several factors contribute to this
phenomenon: unrealistic expectations, the business or industry, family
dynamics, and, above all, poor or non-existent planning for the transition.
This session will highlight some of the key non-tax factors and concentrate
on the various tax planning techniques that can enhance the likelihood of
the succession plan being successful. Specific discussion topics include:
• Identify the various succession planning alternatives
• Review the importance of an “independent” business appraisal
• Discuss the coordination of the succession plan with the business
owners estate plan
• Outline the specific steps for adopting a tax-smart succession plan
• Review important court cases & rulings that may impact succession planning
