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Small Business › Succession Planning › Business Succession

Davidoff Hutcher & Citron LLP

Trusts as Asset Protection Tools for Restaurant Owners

Davidoff Hutcher & Citron LLP on

For restaurant owners, protecting business and personal assets from lawsuits, creditors, and financial risks is essential. One of the most effective legal strategies is using trusts to shield wealth and ensure long-term...more

Allen Barron, Inc.

Tax and Estate Planning for Small Business Owners and S Corporations with No Employees

Allen Barron, Inc. on

Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is simply a myth which does not reflect the nature of business or home ownership....more

Schwabe, Williamson & Wyatt PC

Preparing a Small Business for the Unexpected: Owner’s Illness and Incapacity

Schwabe, Williamson & Wyatt PC on

To run a successful business, an owner must plan meticulously. In 2021, there were an estimated 32 million closely held businesses in the US. However, 61% of ‎them lacked a written succession plan. A company’s beating heart...more

Saiber LLC

Revisions to SBA Loan Rules Will Permit 7(a) SBA Loan Proceeds to be Used to Purchase Partial Changes in Business Ownership

Saiber LLC on

The Small Business Administration (SBA) is proposing revisions to its current lending rules with the potential to both expand access to business ownership for individuals and provide more flexible succession planning options...more

Schwabe, Williamson & Wyatt PC

Using a Defined-Benefit Plan for Business Succession Planning Purposes

Schwabe, Williamson & Wyatt PC on

Despite their reputation, traditional defined-benefit (pension) plans can be a valuable tool for small-business succession planning. Defined-benefit pension plans are often associated with unions and financial mismanagement...more

Davis Wright Tremaine LLP

Recap: Powell’s Book’s | The Rise of an Empire

Davis Wright Tremaine LLP on

“If you give the business to my brother, you will never see your grandchildren again.” When Michael Powell heard that description of a family business succession plan gone wrong from another family in the area, he...more

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