Succession Planning for Closely Held Companies

This comprehensive program, led by experienced Attorney and CPA Roman A. Basi, is designed to equip lawyers with the knowledge and tools necessary to effectively guide their clients through the complex process of business succession and estate planning. Participants will gain a deep understanding of the various exit strategies available to business owners, the tax implications of different succession approaches, and the importance of integrating estate planning to ensure the long-term success of their client's businesses. The program will explore the pros and cons of transferring ownership to key employees, family members, or private equity groups, as well as the application of relevant Internal Revenue Code provisions to minimize tax liabilities and maximize benefits for clients. Additionally, the presentation will highlight the crucial role of estate planning in preserving the benefits of the transition and securing the future success of clients' businesses.

Learning Objectives:

1. Analyze the different exit options available to business owners in succession planning
2. Evaluate the tax implications of various business succession strategies and apply relevant provisions of the Internal Revenue Code to minimize tax liabilities and maximize benefits for clients
3. Integrate estate planning strategies with business succession plans to preserve the benefits of the transition, protect assets, and ensure the long-term success of clients' businesses
4. Develop the skills and knowledge necessary to effectively advise and guide clients through the complex process of business succession and estate planning