Event Level: Intermediate
Required Knowledge: A basic understanding of business-entity types and taxation of sales of businesses
Advanced Preparation: None
Who Should Attend: Practitioners with small business clients who will eventually sell that business to third parties or family members who need advice regarding exiting the business
Vendor: Surgent
Speaker: Don Cochran
- * Understand the process of selling a business from finding a buyer to completing the sale * Understand how business brokers operate and the fees that they charge * Discuss the difference between selling the business and leaving the business—the transition period * Protect the seller’s interest in a seller-financed sale * Understand how estate planning and family succession of a business interact * Understand the use of discounts in transfers of ownership interests to family members * Discuss when to turn over operations while maintaining control of a family business—drawing distributions from the business for retirement and receiving a step-up in basis at death * Understand various structuring options for family business succession