ISSUE 32: 2017

Your Business

Putting the Success in Your Succession Plan

5 steps to ensure that the transfer or sale of your business is right for you, your business and your family.

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Succeeding in business requires sound decision making guided by logic and objective analysis of the facts. That said, many business owners say their best decisions are the ones made on instinct — the gut feeling that a course of action is just right. Whether the decision to pass a business to the next generation or sell it to a third party is rooted in logic or intuition, the business transition specialists at U.S. Trust can help owners complete the transfer or sale of their business in a way that achieves the goals of both the owner and the business.

U.S. Trust has developed several tools to help business owners understand the financial and emotional dynamics inherent in selling a family business. The first, Your Business After You, outlines the critical phases of a sale and the factors that owners and their family members must consider during each phase. The second, The Owner’s Emotional Journey, describes some of the personal impacts associated with the sale of a business before, during and after the transaction. Another source of useful information for business owners is “Navigating Your Sale,” a Capital Acumen article that can be found at capitalacumen.com.  

For more information about business succession, visit ustrust.com/business.

IMPORTANT INFORMATION

Any information presented about tax considerations affecting client financial transactions or arrangements is not intended as tax advice and should not be relied upon for the purpose of avoiding any tax penalties. Neither U.S. Trust and its representatives nor its advisors provide tax, accounting or legal advice. Clients should review any planned financial transactions or arrangements that may have tax, accounting or legal implications with their personal professional advisors.

Always consult with your independent attorney, tax advisor, investment manager and insurance agent for final recommendations and before changing or implementing any financial, tax or estate planning strategy.


Mattjeacok/Getty Images
 

Succeeding in business requires sound decision making guided by logic and objective analysis of the facts. That said, many business owners say their best decisions are the ones made on instinct — the gut feeling that a course of action is just right. Whether the decision to pass a business to the next generation or sell it to a third party is rooted in logic or intuition, the business transition specialists at U.S. Trust can help owners complete the transfer or sale of their business in a way that achieves the goals of both the owner and the business.

U.S. Trust has developed several tools to help business owners understand the financial and emotional dynamics inherent in selling a family business. The first, Your Business After You, outlines the critical phases of a sale and the factors that owners and their family members must consider during each phase. The second, The Owner’s Emotional Journey, describes some of the personal impacts associated with the sale of a business before, during and after the transaction. Another source of useful information for business owners is “Navigating Your Sale,” a Capital Acumen article that can be found at capitalacumen.com.  

For more information about business succession, visit ustrust.com/business.

IMPORTANT INFORMATION

Any information presented about tax considerations affecting client financial transactions or arrangements is not intended as tax advice and should not be relied upon for the purpose of avoiding any tax penalties. Neither U.S. Trust and its representatives nor its advisors provide tax, accounting or legal advice. Clients should review any planned financial transactions or arrangements that may have tax, accounting or legal implications with their personal professional advisors.

Always consult with your independent attorney, tax advisor, investment manager and insurance agent for final recommendations and before changing or implementing any financial, tax or estate planning strategy.