Successful succession planning starts today

Description

Abstract: U.S. companies currently face an economic crisis unparalleled since the Great Depression: rising energy and commodity prices, increasingly stringent lending requirements, volatile stock market values and a general sense of uncertainty. This article points out that, while many businesses are worth less today than under more favorable market conditions, private business owners now can gift a higher percentage of the business to heirs without incurring federal gift taxes or, possibly, estate taxes. The article notes that this is a good time to start, or revisit, succession plans and lists several ways valuators can help.