Keeping it in the Family: Sales and Transfers of Family Businesses
A family business is typically the biggest asset of the family that owns it. You cannot effectively plan the estate unless you also plan the family business. There may be two or three generations that work in it and depend on the income from it. At some point, the senior generation will retire or die and the leadership and ownership must be passed to the next generation with the least amount of hassle, strain, costs and taxation, in a way that the business will thrive with new leadership, while beating the odds against survival.
Learning Objectives:
- How to get the procrastinating entrepreneur to plan for succession Income planning for generations
- Structures that reduce taxation on transfer
- How to prepare the company for transfer
- Avoiding legal traps: Debts, Security Regulations, Hazardous Waste, Licensing, Asset Transfer, Avoiding Probate
Presented by: Roger J. McClure
CLE: 1.0 general credit
Approved States: AR, CA, CO, GA, IL, NJ, NV, NY, OK, PA, TN, UT, VT
(AK, AZ, CT, MO, ND, NH, TX eligible to claim credit)
We will supply you with the information needed to apply in other states.
Contact shopcle@wealthcounsel.com for CLE assistance.
WealthCounsel members: This CLE eligible program is complimentary for WealthCounsel members. Please access and view it here via the member website for optimal experience and inclusion in your CLE Profile Account.
