The four main goals of business succession planning are the following:
(1) to minimize and plan for the financial burden of transfer taxes (estate, gift, and generation skipping taxes);(2) to better provide liquidity to the business owner;
(3) to provide continuity in the management of the business (passing the business to willing and able hands); and
(4) to fairly and adequately provide for the needs of the family members, beneficiaries, and any other interested parties (like key employees).
The four goals of business succession planning was last modified: April 16th, 2019 by David Klasing