Estate and Succession Planning for Small Business Owners

Abstract

This bulletin discusses the fundamentals of estate and succession planning to help families with small businesses assess their goals and consider the economic, legal, and tax implications of various plans. The bulletin is by no means an exhaustive source on estate or succession planning. Nor is it intended to substitute for legal or tax advice that should be obtained from your lawyer or accountant. More detailed publications are available elsewhere and trained professionals should be consulted as a plan is formulated.