Challenges business owners contend with when transitioning the business to the next generation

March 23, 2016 at 5:38 pm

2015_Nov_GMM_Estate_and_business_successionThe first step for business owners is to develop a comprehensive estate plan. A comprehensive estate plan includes a Last Will and Testament, Revocable Living Trust, Durable Power of Attorney (for financial affairs) and Patient Advocate Designation (for medical affairs). The estate plan will also consider current tax laws.

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