Business Succession Planning - Family Retention

Retention of the Business for the Family | Sale of the Business to Co-Owners, Employee or Third Party | Planned Liquidation of the Business

Many business owners have a family member who is both capable and willing to continue the business at an owner's death or disability.

Without proper advance planning, however, the funds needed to retain the business for the family may not be available, and the only alternatives may be to sell or liquidate the business.

When the objective is to retain the business interest for the family at an owner's death or disability, funds may be needed:

• To pay estate taxes and other estate settlement costs.
• To continue an income to the disabled owner or surviving family.
• To equalize inheritances among heirs.
• To provide additional working capital during the transition to new business management.