Holistic Succession Planning for Family Business Owners

Donald P. DiCarlo |
My Business
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Learn about succession planning strategies business owners.  Lack of proper succession planning is a surefire way to lose the family business you’ve worked so hard to create.You can implement a number of business transition strategies to help you maximize your legacy’s ultimate value.As your family and business change, so should your plans for their futures.

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Is Your Business Ready for Your Retirement?

Marguerite C. Weese |
My Business
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As a business owner, you need to develop a solid business succession plan that defines the role that your company will play in your retirement and estate plans.Whether you plan to pass the business on to your children or sell it outright, each option has unique considerations.Succession plans can be structured any way you like, just so long as you have one in place well before you need it.

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Business Succession Planning through a GRAT

Andrew J. Horwitz, CFP® |
My Business
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If you own a business that you wish to pass on to your heirs, a Grantor Retained Annuity Trust (GRAT) can offer tax savings and other advantages.A GRAT is a popular method of transferring property tax -efficiently, such as stock in a closely held business, to a trust in exchange for an annual payment (or annuity) for a term of years.GRATs allow a business owner to maintain control of the business, while passing along appreciation to the beneficiaries in the form of closely held stock.

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