We advise clients on all aspects of planning for the succession of a
business. This involves planning for disposition of business interests,
planning for cross-purchase agreements between or among co-owners and
restructuring a business enterprise to provide for orderly succession.
We analyze the income and estate tax aspects as well as the nature and
structure of the business to implement a plan that is desired by the
client. Many businesses do not continue to succeed into the next
generation due to the absence of such planning by the business owner.
It is important, therefore, for the business owner to develop and
crystalize a working succession plan, with the assistance of an
advisor. Of course, it is advantageous, almost always essential, to
communicate this plan to family members, especially those who are
involved in the business.
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