The Adviser’s Guide to Family Business Succession Planning

Publisher: AICPA

Availability: In Stock

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Description

When should a family business owner begin the succession planning process? As soon as possible! It's never too early to begin the planning process, and with this new guidebook, you can start assisting your clients with their succession plans today.

In over 160 pages, you'll get information and guidance on:

Lifetime Planning
Identifying Succession Candidates
Valuing the Business
The Selling Process
Tax Aspects of Buying or Selling a Business
Allocating the Purchase Price
Structuring the Transfer
Problems in the Family
How to Transfer Ownership Where There Are Family Issues
Structuring a Deal
… and much, much more!

In addition, Adviser's Guide to Family Business Succession Planning includes several sample succession plans for:

A Living Trust and Option
Stock Performance Rights Are Given to the Successor
Redemption of a Sister's Stock Followed by the Issuance of Stock to a Son
Physician Acquires Ownership in Practice in Which She Works

Plus, you'll find sample succession and estate planning letters to help you with the engagement.

Of all the business owners' advisers, CPAs are in the best position to assist in succession planning. Use the Adviser's Guide to help your clients begin planning today.

See full description

About the Author
Acknowledgments
Foreword
Chapter 1 Succession Planning
Chapter 2 Lifetime Planning
Chapter 3 Decision Making
- Advisers
- Getting Started
Chapter 4 Identifying Succession Candidates
Chapter5 Who Should Do the Succeeding
Chapter 6 Valuing the Business
- Methods of Valuing a Business
  - Fair Market Value Appraisal
  - Capitalization of Earnings
  - Excess Earnings
  - Projected Earnings
  - Cost to Duplicate Business
  - Intangible Value
  - Industry Standard
  - Strategic Value
  - Going Concern Value
  - Book Value or Net Asset Value
  - Benchmark or Guideline Company Method
  - Ego Value
  - Human Capital
- What Would Be Acquired?
  - Corporate Stock
  - Asset Sale
- Discounting a Business’s Value
Chapter 7 Definitions
Chapter 8 The Selling Process
- The Adviser’s Guide to Family Business Succession Planning
- Appraiser
- Investment Banker
- Business Consultant
- Attorney
- CPA
- Checklist of the Accountant’s Role
- The Book..
Chapter 9 Tax Aspects of Buying or Selling a Business
- Buy Assets Instead of Stock
- Allocate Payments for Services
- Consider Taxes When Allocating the Purchase Price
- Use Contingent Prices
- Structure as Installment Sale
- Use the Applicable Federal Interest Rate
- Use Payment Terms
- Select the Payroll Wage Base
- Allocate Assets
- Set Up a Personal Holding Corporation
- Preplan
- Keep the Accounts Receivable
- Sell Stock to an ESOP
Chapter 10 Allocating the Purchase Price
Chapter 11 Estate Taxation
- Estate Tax Rate Structure
  - Correct and Incorrect Way to Calculate Estate Tax
  - Gift Tax Annual Exclusion
  - Planning for Both Spouses’ Estates
  - Credit Shelter Provisions
  - Bequests to Spouse
  - Payment of Estate Taxes
  - State Estate Taxes
  - Some Observations
  - Gift Giving
  - Stepped-up Basis
  - Gift Planning Observation
- Estate Tax Apportionment
  - Apportionment Observation
  - Generation-Skipping Transfers
  - Allocation of GST Exemption
Chapter 12 Structuring the Transfer
- Sale of Stock
- Gift of Stock
- Stock Given as Additional Compensation
- Contents
- Stock and Cash Given as Additional Compensation
- Stock Options: Nonqualified Options
- Incentive Stock Options
- Restricted Stock Issuance
- Stock Options or Restricted Stock Issued in Tandem With Cash
- Golden Parachutes
- Phantom Stock
- Shareholders’, Members’, or Partners’ Agreements
- Clauses in Compensation Agreements
- Setting Up a New Business
- Clauses in a Will
- Living Trust Combined With an Option
- Stock Redemption
- Installment Sale
- Self-Canceling Installment Note
- Installment Sale to a “Defective” Grantor Trust
- Charity Remainder Trust
- GRATs and GRUTs
- Employee Stock Ownership Plans
- Sale-Leaseback
- Preferred Stock Recapitalization
- S Election
- A-B Stock Recapitalization
- Private Annuity
- Stock Split Up
- Family Limited Partnership
- Leveraged Buyouts
- Conclusion
Chapter 13 Family Limited Partnerships
- Introduction
- General Partner
- Limited Partners
- Business Reasons for Using FLPs
- Form Over Substance
Chapter 14 Problems in the Family
- Marriage of Child
- Child Dropping Out
- Buy-Sell Agreement Provisions
- Multiple Siblings
Chapter 15 Ownership Transfer Where There Are Family Issues
- Illustrative Succession Plans
- Grooming
- The Adviser’s Guide to Family Business Succession Planning
Chapter 16 Structuring a Deal
- Terms
- Putting Together an Offer
- Offer to Successor’s Investor
Chapter 17 Due Diligence
- Checklist of Items to Be Available for Successors’ Due Diligence
- Contract Preparation
- Continuing Involvement of Seller
- Timing
- Costs
- State Bulk Sales Reporting
Chapter 18 Shareholder/Partnership Agreement Issues to Consider
Chapter 19 Illustrative Succession/Estate Planning Transaction
- Limited Partnership and a Sale to a Grantor Trust
Chapter 20 Sample Succession Plan: Living Trust and Option
- Memorandum: Transfers of Property to a Son and Daughter
- Memorandum: Transfer of the Business to the Son
- To Do List Based Upon Previous Memoranda
Chapter 21 Sample Succession Plan: Stock Performance Rights Are Given to the Successor
- Memorandum
Chapter 22 Sample Succession Plan: Redemption of a Brother’s Stock Followed by the Issuance of Stock to a Son
- Memorandum: Redemption of a Brother’s Stock
- Memorandum: Transfer of Stock to a Son
Chapter 23 Sample Succession Plan: Physician Acquires Ownership in the Practice in Which She Works
- Memorandum
Chapter 24 Marketing Your Succession Planning Services
- Mission
- Technical Training Needed
- Value of Image or Brand
- Value of Marketing
- Do You Market Products or Services?
- Do You Have the Talent?
- Why.
- Bad Marketing
- Ways to Market Your Services
- Elevate Your Staff
- Contents
- Promote Your Partners
- Raise the Stakes
- Event Management
- Excite Your Clients
- What to Market
- Buy-Sell Agreements
- What If the Client Dies Suddenly?
- Family Security
- Heading Off Family Fights
- Rewarding and Retaining Loyal Employees
- Keeping Key Employees That the Client Does Not Want to Lose
- Increasing the Value of the Business
- Getting Paid
- What You Should Do Now
Chapter 25 Sample Succession and Estate Planning Letters
- Sample Succession Planning Engagement Letter: Business
- Sample Succession Planning Engagement Letter: Doctor
- Sample Estate Planning Engagement Letter

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Paperback 2006

Product# 091023

Availability:In Stock

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