EST2611. Business Succession Planning

For closely held and family-owned businesses, succession planning is one of the most important, and most commonly deferred elements of advanced estate planning. A successful transition requires far more than technical tax work. It demands alignment of the owner’s personal goals, business objectives, family dynamics, valuation considerations, and long-term wealth strategy.

Learning Objectives:

• Identify the key elements of an effective business succession plan and how owner goals, exit timelines, and family or stakeholder dynamics influence the planning process.
• Analyze the tax, valuation, and structural implications of internal versus external succession options.
• Apply advanced estate, gift, and income tax strategies, including sales, gifts, trusts, buy-sell agreements, and hybrid structures to support tax-efficient ownership transitions.
• Identify a practical advisor workflow using checklists, governance considerations, and liquidity planning tools to help clients prepare their businesses for ownership and leadership transition.