After many decades of counseling successful closely-held businesses, Brown and Streza knows that successfully transferring closely-held businesses is the most difficult challenge our clients face. It is far more than “positioning the business for a sale” or minimizing estate taxes on the transfer of businesses to your heirs. For example:
- Do you have a systematic process to analyze and address each issue in your business succession planning?
- Does your plan achieve your personal goals?
- How do you pick future leaders when multiple family members are involved in the business? You can’t have 2 CEOs!
- What impact do your choices have on employees, customers, supplies, and banks?
- Do you have a plan for transitioning the above key relationships to your successor?
- Do you understand what really drives the value of your business?
- Does your business have reliable financial reporting and controls?
- Does your business have a process for ensuring legal compliance?
- Can you clearly communicate your succession plan to all, preferably in writing?
- Is your succession plan reflected in your estate planning and other legal documents?
About Brown and Streza
Brown and Streza LLP is a law firm providing integrated legal services in tax, estate, trust, real estate, business, business succession planning, and charitable planning, including representing non-profits and religious organizations. Located in Orange County, California, we serve families, businesses, entrepreneurs, philanthropists, and charitable organizations, focusing on helping closely-held businesses and their owners achieve their goals. For more information, please visit our website.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. Those issues include Step Up in Basis, gift tax, Valuation Discounts, Capital Gains Tax, Income Tax Rates, Wealth Tax, & Estate Tax (death tax).
Policy and Taxation Group is the leading information, education and advocacy organization working for the reduction and ultimate elimination of estate tax, gift tax, and generation skipping transfer taxes, and other taxes that punish hard work and success. Our Mission is to challenge hostile tax policies that meaningfully and measurably impact families and limit the ability of family businesses to remain family owned. We work with Congress in Washington DC against high Income Tax Rates, possible elimination of Valuation Discounts, increase in Capital Gains Tax, enactment of a Wealth Tax, and the continued burden of the Estate Tax (death tax), and the possible elimination of Step up in Basis.
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