A Practical Approach to Business Succession Planning 2024

Business succession planning is integral to running a successful business. This course will provide an overview of the processes that are needed to transfer a business interest.

Presenters - James A. Andersen

Designed For: CPAs, attorneys and business valuation practitioners

Role Level - Manager/Senior Manager; Sole Practitioner

• Determine what a business is worth and how being an owner with control vs. an owner without control impacts value
• Identify transition options, including planning for the outright sale of the business, structuring internal transfers to critical employees and analyzing the pros and cons of transfers to family members
• Recognize tax issues associated with different transition options
• Identify how to start the planning process early and tools to make the process more effective, including developing or modifying buy/sell agreements and other business operating agreements

• Deal considerations
• Selling outright; selling or transitioning to employees; selling or gifting to family members
• Relevance of discounts
• Family transfer issues
• Buy/sell agreements to plan for ownership changes and help avoid shareholder and family disputes

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