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Law Offices of Frank J. Gobes, P.C.

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Business Succession

A Plan For Your Business

Over forty percent of businesses in the United States will pass ownership to the next generation within five years.  A business succession plan takes into account management succession, liquidity planning, tax issues, employee benefit planning and estate planning. Tools used in succession planning include the following: lifetime gifts, installment sales, private annuities, recapitalization, and charitable trusts.

Which tools are right for a particular plan depends in part on the structure of the business, the identity of current and future owners, and the owner’s objectives.  For instance, the installment sale is a popular tool for transferring interests in a family-owned or small business enterprise when all family members are not involved in the business or the business is being transferred to a member of the management team who is not a family member.

One of the most important things to remember about business succession planning is not to delay. 

Frank J. Gobes

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  • Experience
  • Wills and Testaments
  • Trusts and Estates
  • Business Succession
  • Real Estate
  • Contact Us
  • Directions

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