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.

In this session will outline a practical framework for advising clients on ownership and leadership transitions. The session emphasizes actionable planning steps that advisors can implement immediately, supported by real examples drawn from client engagements.

Learning Objectives:

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