Business Succession Planning – A Discussion on How to Help Your Clients Navigate the Legal, Tax and Family/Fairness Issues

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This presentation will cover the importance of having your clients involve their team of advisors (including their attorney, accountant, banker, financial and insurance advisor, business coach and appraiser) when preparing an exit plan so that the business is transitioned in an orderly manner to the next generation or to a non-family owner. We will discuss the use of S Corporations (or LLCs), commercial real estate, death benefit only employment contracts as sources of income for the surviving spouse; allocating stock in a family corporation among actively employed children and inactive children; and using recapitalizations, installment sales to intentionally defective grantor trusts, GRATs as techniques to shift future appreciation to the next generation.

The speakers are Michael Markhoff, Esq., Danziger & Markhoff LLP and Howard Klein, CPA, Citrin Cooperman & Company LLP. 8:30 AM - 10:30 AM (2 CLE credits).