ESTATE &
SUCCESSION PLANNING
Business Estate & Succession Planning
At M Bloomberg Professional Corporation, we provide comprehensive business estate and succession planning services to ensure a smooth transition of your business to the next generation or new ownership. Our team works closely with business owners to develop strategies that protect the value of their business while minimizing tax liabilities and legal complexities. Whether you’re planning for retirement, selling your business, or passing it on to heirs, we create customized plans to safeguard your legacy and ensure the long-term success of your company.
Positioning your Business for the best outcome
Developing and implementing a well-designed succession plan is essential to the survival of a family business from one generation to the next.
We help with these key issues
Effective transition of your business to your successors is critical to its continued prosperity. With a solid background in tax, business succession and estate planning, and other financial matters, we are fully qualified to address the complex issues of business continuation.
Keeping theBusinessin the Family?
Are you going to pass the business on to your family or sell it to a third party? We help you weigh the advantages and disadvantages of each of these options.
Who's Going to Runthe BusinessWhen You're Gone?
Management and ownership are not one and the same. You may decide to transfer management of your business to just one of your children but transfer equal shares of business ownership to all your children, whether they're actively involved in the business or not
Minimizingthe TaxBite?
The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes may be due when ownership is transferred.
Makingit Fair
We talk with each of the family members to ensure that they feel they a getting an equitable and fair share of the pie.
there's More we can do for you
Once we understand how you feel about the key issues above, we begin constructing your succession plan:
- Business Valuation
- Business Restructuring
- Tax Consequences
- Retirement Projections
- Tax Projections.