WARNING: Passing Your Business to a Family Member or Associate Can Be a Risky Proposition.

Plan For Your Succession

Key Features

Plan For Your Succession

7 out of 10 family owned businesses will not survive the transfer of the business from one generation to another. Lack of planning and discomfort discussing topics such as aging, death, and financial affairs will more often than not result in loss of a business due to estate taxes, family discord, or some combination thereof.

If you want to assure that the business you worked so hard to build will be there to support future generations, you must clarify your plans for succession and finalize, as well as legalize your priorities.

Get professional advice for dealing with these key issues and more…

  • What will happen to your business? Do you wish to keep it in the family, sell it to a third party or pass it on in some other manner? We can help you weigh the advantages and disadvantages of each of your options, as well as help you determine how the business can best provide for you as you enter your retirement years.
  • If you are not running the business, who is? Ownership of the business and management of the business are often two distinctly separate entities. How will your retirement or death affect the day-to-day decision making of how the business is run? Will your children take active roles in the running the business, or will they exist as owners only? Clarifying your expectations in legal terms and making these decisions in advance will help ease the transition of ownership, as well as management, without further risk of detriment to the business as a whole.
  • How can you minimize the tax burden upon transfer? When businesses transfer ownership, taxes are a reality regardless of the relationship between the parties. Review your options with an expert in the field in order to make the decisions that will best support your family members and the business.

Tailored Solutions

Remember that inherited assets, such as family businesses, are often the cause of tremendous emotional strain and stress for individual family members. It is best to address any actions that might be seen as fair or unfair ahead of time, so that family members know what to expect and why you are making the decisions that you are making.

They may not realize, for instance, that the tax implications of inheriting a business might be more burden than they could financially handle or that decisions involving management vs. ownership have been taken into account.

Contact us about our Succession Planning Services to determine the value of your business, before restructuring your business, to review the tax consequences and tax projections of your actions, and to help you plan for retirement.

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Hear What Our Satisfied Clients Have to Say

Discover Why Our Clients Rave About Us! Read Their Glowing Testimonials.
Ramona Olmos
Ramona Olmos
2021-08-21
Very friendly and professional
Sandra Askern
Sandra Askern
2021-06-24
Betty Sue was very knowledgeable about the business & quite personable.
Michaela Garrett
Michaela Garrett
2021-05-27
Well where do I start ? First of all I am the person that gets totally overwhelmed w/ taxes , etc but working w/ Betty made it such a better experience!! I can’t even begin to express how different of an experience this was . She was very patient w/ me and answered all of my questions and actually for the first time I left her office feeling more educated than I ever have . She is so sweet and down to earth. She just makes you feel comfortable and for me that is huge . I would recommend her and her whole team to anyone that is needing help w/ taxes , accounting ,etc. She really put my mind at ease and helped me get a game plan of where to even start . The last lady ( different business) really messed up my taxes and I had put off dealing w/ it for to long bc like I said it completely overwhelms me so THANK You Ms. Betty for all of your help and kindness and patience. It truly was a pleasure working w/ you and your whole staff . I would absolutely recommend this establishment.. I left there feeling so relieved so again Ty!!
Paulette Carranza lee
Paulette Carranza lee
2021-05-24
Betty came into our business this morning and was very knowledgeable and answered all of my questions
Logan Skeen
Logan Skeen
2021-05-19
Betty was able to help my father with his tax problems which was a huge release thank you
Frank Vaughn
Frank Vaughn
2021-05-12
Betty came into my business this morning and was very pleasant to talk to. Hopefully me and my wife will be signing up for services with IBM soon. Seems like an amazing team
Liza Clients

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