Succession
Planning
Succession Planning
For many business owners, transitioning a company to a new owner can be one of the toughest challenges they face.
- How can you best position your business to sell?
- How can you ensure its ongoing operational success?
- If you sell, can you afford to retire?
- Should you transfer the business to a family member?
- If so, how can you minimize estate taxes?
We help navigate these challenges and develop a solid plan for business succession — one that addresses ownership succession, management succession, and leadership development, all while meeting your personal retirement goals.
Navigating the Complexities of Business Succession
Succession planning is a critical aspect of any business’s long-term strategy. It involves developing a comprehensive plan to ensure a smooth transfer of ownership and leadership when the current owner retires or steps down. A well-executed succession plan can help protect your business’s value, maintain its financial health, and ensure its continued success.
We can provide invaluable guidance in these areas:
Financial Analysis
We can conduct a thorough financial analysis of your business to determine its value and identify potential areas for improvement. This information is essential for developing a realistic succession plan.
Tax Structuring
It’s important to understand the tax implications of different succession strategies, such as selling the business, transferring ownership to family members, or setting up an ESOP.
Estate Planning
We work with your legal advisors to develop a comprehensive estate plan that addresses the transfer of ownership and minimizes estate taxes.
Business Valuation
Valuations can identify the financial implications of transferring ownership of a business to the next generation. This information helps determine fair market value to negotiate a sale price, making a valuation essential for any business seeking to ensure a smooth transition of ownership.
Legal and Regulatory Compliance
We ensure that your succession plan complies with all applicable laws and regulations.
Post-Succession Support
We can provide financial and tax advice to the new owners of your business.
Questions?
Estate, Trust, and Succession Planning Services
Mark’s background in tax enables him to provide extensive services to the firm’s clients in the areas of estate and trust planning, and business succession consulting.
Mark A. Kassens, CPA
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mkassens@bradyware.com
