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What to Consider When Selling Your Company to Your Children
From our findings, about two-thirds of Exit Plans result in inside transfers as opposed to a third-party sale. We believe the reason for this is simply a lack of knowledge of ownership transfer options.
In this episode of Why We Plan, John Brown, Founder of BEI, and Elizabeth Mower, President of BEI, discuss their personal experiences working with business owners that primarily sell to their business-active children simply because they are unaware of any other options. We don’t believe that selling to your children is the wrong choice, we just want to make sure you are aware of the many other options you may have and make you aware of the decisions to consider when transferring ownership. Be sure to look at the total tax consequences and emotional consequences of each decision you may have while also maintaining the peace in the family.