DAK’s, Managing Director, Michael Richmond, joins Shenkman Wealth Management’s President Jonathan I. Shenkman, as a panelist for their Fall Webinar Series. Michael, along side Bernadette Kasnicki, Esq., LL.M, Partner, Rivkin Radler, LLP and Avi Sinensky, Esq., Partner, Rivkin Radler, LLP cover the business, legal, and estate planning issues that arise when selling a family business.
The panelists covered the preparation, negotiation and closing of the sale of a family business. With special attention to market trends, legal issues, and tax planning ideas.
- Important legal steps to take when planning to sell a family business.
- Key legal issues that a family should expect as part of the sale process.
- What a company can do in today’s environment to prepare for a sale?
- How does a recession/high interest rate environment impact valuation?
- On the tax and estate planning side, what are the big picture questions families should be asking once they know that they are interested in selling the family business?
- Options that will mitigate the tax consequences of a sale.
- Strategies to tax efficiently having one’s children share in the benefits of the sale.