Many people have worked most
of their lives to build closely held businesses.
This effort usually creates a high level of
satisfaction, as well as significant wealth for
the family. One of the goals of building a family
business is that it may be passed on to the next
generation with a minimum of tax and family
problems. However, problems often arise, because
of the failure to think ahead about tax issues and
the differing interests that family members may
have.
Our experts work with families to plan the
transition of business ownership, while protecting
the older generation and insuring a comfortable
retirement. Using shareholders' agreements,
special compensation arrangements, insurance
planning and family financial counseling, we can
help to preserve family businesses to the second
and third generations and beyond, while working to
minimize the tax liabilities arising from such
transfers.
