Tax Facts

L—Disposition of a Business Interest

For our purposes, there are three primary risks facing the business owner: death, disability, and retirement. Likewise, upon the occurrence of one of these events, only one of three things can happen to his business: it will be continued, sold, or liquidated. The planning process should reveal the answers to these questions

For our purposes, there are three primary risks facing the business owner: death, disability, and retirement. Likewise, upon the occurrence of one of these events, only one of three things can happen to his business: it will be continued, sold, or liquidated. The planning process should reveal the answers to these questions:

WillSUCCESSOR MANAGEMENTbe available and willing to operate the business? Such a person could be either a family member or a key employee, but it is important to be realistic about both their abilities and commitment to staying with the business. A yesanswer will lead to . . .

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