(Part II) Objectives of the Succession Plan In our last article we discussed why a well-constructed succession plan is necessary. In this article, we review the essential objectives the plan needs to address. The objectives of succession planning and the methods used to accomplish these objectives are varied, but include the following: MAXIMIZE THE VALUE […]

Many closely held businesses involve family members. The owner of such a business may wish to sell the business to some third party on or prior to death, or, more likely, may desire to transfer the business to the owner’s children. Although some business owners may believe little or no planning is required for this […]

Attorney Dennis Hollman presented a seminar at the Society of Financial Service Professionals (“SFSP”) on January 13, 2010 in Tampa, Florida. Some of the key issues in the presentation were preparing buy/sell agreements, structuring deferred compensation plans, minimizing income and other taxes, and uses of life insurance in the family business setting. SFSP is a […]

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