Business Succession Planning – Transition the Business to the Next Generation, Employees or Third Party Buyer

Transition of a business from one generation to another is not always easy. There are various business, tax, and personal issues to address. Family farms can provide difficult challenges. Perhaps the two most significant issues are dealing with giving up control and how to value the business, especially when transferring to a family member where other family members are not involved.  Proper planning is important for a successful transition and we take into consideration legal, tax, and personal issues.