New Tax Regulations Attack Family Business Planning

New Tax Regulations Attack Family Business Planning

As you know, the Internal Revenue Service closely scrutinizes transfers between family members of stock, units, and partnership interests (“Stock”) in any corporation, limited liability company, or partnership that is family-owned (a “Family Business”).  The Service...
Choose Wisely When You Consider Your Fiduciary and Your Estate Plan

Choose Wisely When You Consider Your Fiduciary and Your Estate Plan

One of the most common errors parents can make when doing their estate planning is not making the hard choice as to who they want to serve as their fiduciary.  Specifically, parents make the mistake of choosing among their children to serve as their fiduciary instead...
Seven Steps to Strengthening Your Business Succession Plan

Seven Steps to Strengthening Your Business Succession Plan

To further expand on my blog post Planning for Succession in your Business dated June 26, 2013, I have outlined the seven steps to a successful business succession plan. I    FAMILY RELATIONSHIP PLANNING Understanding family issues plays a key role in the...
Planning for Succession in your Business

Planning for Succession in your Business

Family businesses comprise approximately 90% of the businesses in the United States. Yet only about one in three survive to the next generation and one in ten to the third generation. Why? The closely-held family business often fails for the same reason that it...