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Succession Planning The Hantz team combines both your personal financial and estate planning needs with the business needs of your company. We integrate those needs to create the best possible solutions to help you meet your goals, while maintaining the integrity of your business.  To receive fair market value for your business, you need a solid transition strategy. Many business owners too often convince themselves that they will never retire, and thus they inadequately plan for the eventual transition of their business ownership to others. As a result of this lack of planning, many business owners and their families receive much less than the fair market value of their business. The diminishing value of their business happens because their business was sold as an estate asset to pay estate taxes, or because of the decline in health of the primary owner. Since little or no planning has been done in advance, the business is often liquidated at liquidation prices simply because no one is in line to operate the business like the previous owner. However, even if a capable employee can operate the business the financing of the sale is inadequate for the previous owner to receive the fair market value. Without proper planning and guidance, the business owner may needlessly end up paying unnecessary taxes. Frequently, a business owner would like to leave the business to a family member, and without knowing it the owner can run afoul of the IRS Family Attribution Rules. This then leaves the entire transaction in jeopardy from a tax liability standpoint. When passing a business from one family member to another, estate tax law comes into play, and without proper planning, as much as 55 percent of the estate may be lost. Sadly, too many businesses have to be liquidated to meet this tax payment. The Hantz team can help you make sure your family can retain the your business and continue the tradition. |
