Business succession planning is integral to running a successful business. This course will provide an overview of the processes that are needed to transfer a business interest.
Learning Objectives
- Determine what a business is worth and how being an owner with control vs. an owner without control impacts value
- Identify transition options, including planning for the outright sale of the business, structuring internal transfers to critical employees and analyzing the pros and cons of transfers to family members
- Recognize tax issues associated with different transition options
- Identify how to start the planning process early and tools to make the process more effective, including developing or modifying buy/sell agreements and other business operating agreements
Major Topics
- Deal considerations
- Selling outright; selling or transitioning to employees; selling or gifting to family members
- Relevance of discounts
- Family transfer issues
- Buy/sell agreements to plan for ownership changes and help avoid shareholder and family disputes
