Succession Planning
Succession planning involves having the right people in the right positions. Different tax characteristics apply depending on whether the right person is a family member or an outside party. For instance, giving part of your business to a family member may trigger gift tax issues. Or handing over a part of your business to an outside party can trigger change in ownership issues. For every owner, there is a related tax issue. We can help you minimize this burden by helping you choose the right person for the job.