Business Succession Planning
Business succession is a big concern for entrepreneurs that have built successful companies as they get older.
A business succession plan can help you make important decisions about ownership, maximizing your company's value and tax strategies.
There are a number of options available:
-Transfer to a family member
-Sell to a partner, management team or employees
-Sell to a third party
Maximizing company's value
Focusing on key financial indicators and non-financial indicators will drive up the value of your company.
A proper business succession plan could involve an estate freeze, the use of trusts and utilization of your lifetime capital gains exemption to reduce this tax burden.
In addition to assisting with preparing the succession plan, we can assist in preparing a valuation of the business and will work closely with legal counsel to implement the plan and assist in any tax filings that may be required.