Business Succession Planning
An integral part of wealth preservation planning for the owner of a closely-held business blends business succession planning with estate planning. Thus, while estate planning may avoid or minimize adverse tax consequences, estate planning alone will not necessarily secure the continuity of a business after the death of an owner or key principal. Accordingly, where appropriate, we work with our clients to consider and implement various techniques to ensure that control of a company is passed along to appropriate parties. These may include buy-sell agreements, installment stock sales, private annuities, corporate redemptions, gifting programs and other means of implementing succession intentions. In doing so, we evaluate tax, management, financial and personal considerations that may point the direction to one path as opposed to another.