Business Succession Guide, Third Edition

A Mahaffy

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As the baby boom generation approaches retirement age, the ownership of many private companies will need to be transferred. While many transfers will be made to family members of the current owners, other transfers will be made to employees, other shareholders or outside parties. Transfers to each of these groups can involve quite different business issues. For the owner who has done little succession planning, retirement from the company may not be easily achieved. The numerous issues related to business succession can seem overwhelming to the owner, who is certainly tempted to deal with them at a later time. The day-to-day problems of the company always seem to be more important and demand immediate attention. This book guides the owner through these various issues. It sets out many of the steps which a current owner might take when attempting to transfer ownership of the company. It looks at how the company might be valued, put into saleable condition, and reorganized to help defer or reduce taxes arising upon the transfer. It looks at how ownership can be transferred to family members, employees, other shareholders, or to outside third parties, along with the process to be followed and some of the main documents to be used. As the process is complicated and the outcome not always certain, this book is designed to manage the owner's expectations, and to let them know what they're getting themselves into.


Practice Area:
Commercial Law


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