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The Most Difficult Challenge Our Business Clients Face - Pat Soldano

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.

We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…

As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.

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 Family Enterprise USA 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. The issues we fight for or against with Congress in Washington DC include 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 gift tax , estate tax and generation skipping tax .


Family Enterprise USA promotes family business and job creation, growth, and sustainability by advocating for family businesses , their lifetime of savings, and the issues they face running their businesses every day. Some of the issues we fight for or against with Congress in Washington DC are 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 gift, estate taxes and generation skipping taxes . Family Enterprise USA represents and celebrates all sizes and industries of family businesses and multi-generational employers.

Family Enterprise USA (FEUSA) is a 501(c)(3) non-profit organization. Family foundations can donate.


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Family Enterprise USA is the organization that represents all family businesses on a national level in DC; it is not unique to any industry. Family Enterprise USA is different from other organizations because it represents and advocates for the families of family businesses and the issues, they face running their businesses every day. Our sole mission and purpose is to promote family businesses and their job growth in America. We also support the work of Family Business Centers across the country. We hope your family will choose to be a member of Family Enterprise USA.