ESTATE & TRUSTS
Business Succession Planning
Business Succession Planning
Incorporating business succession planning into the estate planning process is essential for business owners. Planning for what will happen to your business upon your retirement or death can address how the business will be managed, who will own it, and whether or not it will be sold or continue. Business succession planning facilitates decision-making around these issues to ease the impact of a transition, which can be especially complicated because of the relationships and emotions involved in a closely-held or family business. Additionally, business succession planning can include strategies to minimize tax implications as well as strategies to limit liability.
