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4.0 Credits

The life cycle of the small business has three phases: 1) starting the business, 2) operating the business, and 3) getting out of the business. Focus on getting out of the business in this seminar. Discuss tools and concepts to advise the small business owner and assist them in developing the right exit strategy, as well as exit strategies related to third-party sales and succession planning within a family.


  • Understand the process of selling a business from finding a buyer to completing the sale
  • Understand how business brokers operate and the fees that they charge
  • Discuss the difference between selling the business and leaving the business: the transition period
  • Protect the seller’s interest in a seller-financed sale
  • Understand how estate planning and family succession of a business interact
  • Understand the use of discounts in transfers of ownership interests to family members
  • Discuss when to turn over operations while maintaining control of a family business: drawing distributions from the business for retirement and receiving a step-up in basis at death
  • Understand various structuring options for family business succession

Major Topics

  • How to find unrelated buyers of a business
  • Maintaining control of the business succession process
  • Turning over the reins to family members: when to give up control
  • Finding the right team to sell a business
  • Options for selling a business to an unrelated party
  • Options for selling a business to family members
  • Options for selling a business to employees
  • Overcoming the emotional attachment to a business
  • Selling to family members for a life annuity
  • Using family partnerships and trusts to transfer a business


A basic understanding of business entity types and taxation of sales of businesses

Advanced Preparation



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Tuesday, October 27, 2020

General Sessions