Business Succession Planning Primarily for the Closely Held Business (09-03-26)- A/V

CPE Credit: 4 hours

This 4-hour course is designed to provide tips and techniques for planning for when the time comes to turn a business over to new owners.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

1. Distinguish succession planning from replacement planning and identify the strategic, management, ownership, and continuity considerations involved in developing a business succession plan.

2. Apply a systematic approach to business succession planning by identifying stakeholder goals, assessing management talent, evaluating business needs, and developing strategies for an orderly transition of ownership and leadership.

3. Evaluate methods for transferring ownership and control of closely held C corporations and S corporations, including stock sales, asset sales, redemptions, lifetime gifts, stock bonuses, and corporate reorganizations.

4. Analyze succession alternatives for partnerships, limited liability companies, and sole proprietorships, including sales, redemptions, lifetime gifting strategies, entity restructuring, and basis considerations.

5. Determine appropriate strategies for addressing family and management succession issues, including transfers to active and inactive children, retention and development of key employees, and succession involving unrelated shareholders or partners.

6. Assess how estate planning, retirement needs, business valuation, liquidity requirements, insurance, and buy-sell arrangements affect the design and implementation of a comprehensive business succession plan.