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The Business in Transition - Making the Succession Plan Work

This title explains how to effectively transfer a business in the most tax-efficient manner, covering all the legal considerations of succession planning for business owners. Six appendices provide in-depth technical information and approaches, written for practitioners.



Publisher: LexisNexis Canada
Country: Canada
Format: Softcover Book
Publication Language: English
ISBN: 9780433453536
Publication Date: 2008-12-31
 
Price: $95.00
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    What Does Business Succession Planning Involve?

    The decision to transfer a business to the next generation or sell a business has monumental implications for business owners, both practical and emotional. Business succession encompasses estate and will planning, tax law, family law, employment law, insurance law, and much more. Not having a succession plan can seriously threaten the viability of a business - and the ability to keep the business within the family.

    A Guide for the Business Owner and Professional

    The Business in Transition - Making the Succession Plan Work explains how to effectively transfer a business in the most tax-efficient manner. Authors Stuart Bollefer and David Malach cover all the legal considerations of succession planning for business owners. Six appendices provide in-depth technical information and approaches, written specifically for practitioners. This book includes:

    • Step-by-step instructions for each stage of business succession planning
    • Strategies to ensure a smooth transfer free of costly legal and financial problems
    • Case study illustrating the kinds of planning and possible solutions available to a business owner

    Answers to Important Questions - for Business Owners

    • How do I transfer my business to my children?
    • How do I monitor their performance after the sale?
    • When will tax arise on transfer of my business - and how will I pay it?
    • How should I factor in the employees of my business?
    • How should I prepare my business for sale to third parties?
    • What techniques will be used to value my business?
    • What planning will I need to do if I want to retire outside of Canada?

    Extensive Appendices - for Practitioners

    • Technical aspects of keeping a business in the family under the Income Tax Act and other legislation
    • Steps for completing various types of reorganizations
    • Detailed discussion of valuation techniques and calculations
    • Planning using life insurance and other relevant types of insurance
    • Sample will provisions for establishing primary and secondary estates
    • Steps required for terminating Canadian residency for tax purposes

    Who Should Buy This Book?

    • Canadian business owners who need a guide to planning the succession of their business
    • Business, tax, accounting, elder law, and wills/estates/trusts lawyers seeking a resource on business succession planning that both they and their clients can use
    • Accountants and financial advisors who advise their clients on planning the succession of their business
    • Life insurance agents who provide the life insurance component of a business succession plan

    Chapter 1: Introduction to Business Succession Planning
    Chapter 2: What is Succession Planning?
    Chapter 3: Business Succession Planning, The Nuts and Bolts of the Planning Process
    Chapter 4: Keeping the Business in the Family
    Chapter 5: Preparing for a Sale of the Business
    Chapter 6: Dealing with Key Employees
    Chapter 7: Shareholder Agreements (Co-Author, Cecilia Moffat of Aird & Berlis LLP)
    Chapter 8: Business Succession and Family Law (Aaron Franks of Epstein Cole LLP)
    Chapter 9: Evaluating Your Business: What Is It Really Worth? (Howard Rosen and Eveline Reid of LECG)
    Chapter 10: Insurance Planning: The Role of Insurance in Business Succession Planning
    Chapter 11: Will Planning
    Chapter 12: Implementing and Monitoring the Plan
    Chapter 13: Retiring Out of Canada: Some Tax Considerations
    Chapter 14: Business Succession Planning: A Case Study
    Appendices

     

    Stuart Bollefer, LL.B. & David Malach of Aird & Berlis LLP


    Stuart Bollefer, LL.B., is a partner in the Aird & Berlis Tax Group, as well as Chair of the Wealth Management and Succession Planning Team. He has over 25 years of extensive experience providing domestic and international tax advice on estate and wealth preservation planning, mergers and acquisitions and inbound/outbound investment and business expansion. He has written and spoken extensively on all of these areas.

    David Malach, LL.B., is a partner in the Aird & Berlis Tax Group, a former managing partner of the firm and a current member of its Executive Committee. He is co-chair of the Tax Litigation Group. His practice covers all areas of tax, including corporate reorganizations, will and estate planning and tax litigation. Over his more than 25 years of experience, David has written and lectured extensively on wealth management and succession planning.

     

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