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Business Succession Planning through a GRAT

Andrew J. Horwitz, CFP® |
My Business
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Succession planning can be an exciting, satisfying process for owners of closely held businesses, but it also involves difficult issues that must be tackled head on. One of the major challenges that entrepreneurs encounter is determining the best way to pass on the ownership of their business to their children or other heirs.The business owner can choose any number of methods of transferring ownership of a company, while simultaneously minimizing gift and estate taxes and probate costs.

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Planning is Vital for Family Business Owners

Marguerite C. Weese |
My Business

You’ve worked long hours—month after month, year after year— to establish and grow your own family business. In fact, perhaps you’ve worked so hard that you haven’t had much time to plan either for the business’s future, or your own.But the good news is that proper estate planning can help ensure that your business is preserved for future generations and that you and your spouse live comfortably after you retire.

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