Breakfast Roundtable Discussion - Tuesday, December 15, 2015
The fourth Business Owner's Guide to Survival, Growth and Wealth roundtable discussion on "Business Succession and Estate Planning" outlined the steps necessary to create a viable succession plan for your business, including:
- Determining the goals and objectives of the current owner
- Identifying successors and defining their roles
- Training and mentoring the next generation of managers
- Minimize transfer taxes and provide liquidity to the Founder during his life and to his estate at death
- Creating a Transition Plan that incorporates tax efficient techniques for the transfer of wealth and control
- Sale of Stock to the next generation vs. gifting of such stock
Additionally,it addressed questions regarding:
- How do I retain key employees during the succession process?
- When is it appropriate to bequeath some part of the business to a spouse?
- How do I devise an overall estate plan that meets the needs of my business succession plan?
- How does the founder assure that he or she has sufficient income upon retirement?
The discussion was led by leading authorities in business succession and estate planning, including:
Morris W. Banks, Succession Planning Attorney, Pullman & Comley
David Rosenthal, CPA, Partner, BlumShapiro
December 15, 2015
7:30 a.m. – 8:00 a.m.: Registration and networking
8:00 a.m. – 9:00 a.m.: Breakfast and discussion
Pullman & Comley, LLC
90 State House Square, 14th Floor Boardroom
Hartford, CT 06103
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