Proper Business Succession Planning
Many people today have their wealth tied up in their business. Those same people count on selling that business one day in order to receive a large amount of cash for retirement. However, it is prudent to start looking ahead towards maximizing certain strategies which will help maximize this effort. One of the most important things is getting a correct valuation on the business and consider gifting it to the next generation in business succession plan. Through lack of control and marketability discounts, the gift tax bill will be greatly reduced.
See Veronica Dagher, "Preparing to Leave," WSJ.com (April 29, 2012)
Posted by Ian Horowitz, Associate Editor, Wealth Strategies Journal
Listed below are links to blogs that reference this entry: Proper Business Succession Planning.
TrackBack URL for this entry: