Business succession planning means different things to different people.
To the management consultant it relates to management succession or maximizing business value, to an attorney it typically relates to buy-sell agreements, gifting strategies and passing the business upon death, to financial professionals it may relate to funding the acquisition of the
business upon death and retirement planning, the CPA is interested in the financial ramifications of the succession, the psychologist with the personal dynamics, and the business appraiser in ascertaining value. All of these professionals have important input, and some may have critical solutions. Your specific situation dictates which of the above-referenced disciplines should be engaged and when.
The Law Firm of Allen Ratcilffe, Jr. helps you plan buy-sell agreements, gifting strategies and passing the business upon death.
What's new following the 2017 Tax Act, and what you need to know.