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The Family Business: Preserving and Maximizing an Investment in the Past, Present, and Future  


Author:  John R. Wiktor.


Source: Volume 31, Number 02, Winter 2014 , pp.65-73(9)




Journal of Taxation of Investments

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Abstract: 

A family business, often the primary source of a family’s wealth and the family’s largest investment, can consume its owner. This is only natural, but sometimes the day-to-day management issues blind an owner to the need for careful succession and estate planning. Advisors to owners of family businesses should make sure that the succession plan and tax consequences associated with the transfer of the business—whether through sale, retirement, or upon death—are not overlooked. Careful attention to planning details will enhance value for future generations.

Keywords: family business, estate tax, succession planning, estate planning

Affiliations:  1: Reed Smith LLP.

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