You need look no further than the hit TV show “Succession” to see how lack of a clear succession plan can tear a family — and business — asunder. Although the power struggles and drama are certainly heightened on the show, the dangers of failing to think ahead about leadership change are anything but fictional […]
Category: Succession
A GOOD IDEA: BUY-SELL AGREEMENTS
Life comes at you fast. Marriages end, illnesses and injuries occur, people decide to change careers or retire — sometimes without much advance notice! Any of these events could pose a major problem to any construction company with multiple owners. That’s why having a buy-sell agreement is a good idea. Keeping it fresh A buy-sell […]
Could An FLP Fit Into Your Succession Plan?
Among the biggest long-term concerns of many business owners is succession planning — how to smoothly and safely transfer ownership and control of the company to the next generation. From a tax perspective, the optimal time to start this process is long before the owner is ready to give up control. A family limited partnership […]
Estate Planning For The Young And Affluent Can Be Tricky
Events of the last decade have taught us that tax law is anything but certain. So how can young, affluent people plan their estates when the tax landscape may look dramatically different 20, 30 or 40 years from now — or even a few months from now? The answer is by taking a flexible approach […]
M&A Transactions: Be Careful When Reporting To The IRS
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the biggest in M&A history, with the United States accounting for $2.14 trillion worth of transactions already this year. […]