Name
Structuring Family Owned and Closely Held Businesses
Date & Time
Thursday, July 23, 2020, 2:55 PM - 4:25 PM
Description

Business succession planning refers to the practice of using estate planning strategies to increase the chances for the survival of a family business when the business owner retires or dies unexpectedly.  Without a doubt, the costs of not planning are greater than the costs of business succession planning.  The costs of failing to plan may include, among others, a loss of the family business to estate taxes or a loss of the family business due to a lack of liquidity to tide the business through the period following an unexpected death.  An understanding and use of tax elections in the business succession planning context can mitigate these and other potential issues