Treating the Children who are Involved in the Business and those who are not, Equally
Your business is thriving. You have a strong management team to whom you can delegate decisions you had been making yourself for years. You take off every Thursday to play golf or to watch your grandchildren. You are thinking about taking off more time… Read More
Why A Handshake Agreement Among Business Partners Is Not Worth The Paper It Is Written On
You go into business with your sister, your father, your college roommate or your best friend. The classic “we-started-in-the-garage” business. You struggle at the beginning – you do whatever you can to minimize overhead. Lawyers are expensive so you decide not to put anything in… Read More
Demystifying Discounts
Discounts for lack of marketability and lack of control or minority interest are essential elements of the valuation of stock or other interests in a closely-held business. They are factors which a prospective buyer will consider in determining how much to offer for such an… Read More
Disappearing Discounts
While the federal estate and gift tax used to be assessed at a maximum rate of the confiscatory fifty-five percent (55%) (and for a few years and for very large estates, an astounding sixty-five percent (65%)) it is now at the historically low figure of… Read More