BUSINESS SUCCESSION PLANNING

A survey conducted in January 2005 by PriceWaterhouseCoopers reported that only 22% of small business owners reported doing any succession planning.  That shortcoming has real, and often, dire consequences.  Many small businesses wind up being liquidated in the equivalent of a fire sale because the owners did not take the time to plan, or to properly plan, for an orderly disposition or continuation of perhaps the largest asset in their estate.

One of the bigest dilemmas business owners face is how to fairly distribute their estate to their children when the major asset in their estate is the business, particularly if only one of their children is involved in the business.  The choice they make can either promote family values and relationships or irrevocable split the family forever.

Contact us now on how you can properly protect your business and assets to pass along to your heirs in an equitable manner.