{"id":4738,"date":"2021-02-25T10:41:43","date_gmt":"2021-02-25T15:41:43","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=4738"},"modified":"2021-02-25T10:41:43","modified_gmt":"2021-02-25T15:41:43","slug":"estate-planning-with-family-businesses","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html","title":{"rendered":"Estate Planning With Family Businesses"},"content":{"rendered":"<p>To the owners of family businesses, estate planning can sometimes be an after-thought. Owners are often so involved in building their business and managing its daily operations that they do not have time to devote to the planning that will become important when the owner is ready to hand over management control and ownership to successors. It is often the case with successful family businesses that there has been little or no thought given to the transition of management and ownership, with the result being there is no succession plan in place. Further, available strategies to transfer the ownership of the business to younger generations of the family in a tax-effective manner may not have been utilized.<\/p>\n<p>When a family business is one of the assets, or perhaps the primary asset, a well thought out strategic and financial plan for the business and an estate plan for the family are critically important. The following is a brief and by no means exhaustive outline of some points to consider.<\/p>\n<p><strong>Strategic Planning<br \/>\n<\/strong><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html\"  title=\"Continue Reading Estate Planning With Family Businesses\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>To the owners of family businesses, estate planning can sometimes be an after-thought. Owners are often so involved in building their business and managing its daily operations that they do not have time to devote to the planning that will become important when the owner is ready to hand over management control and ownership to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[293,245,246,65,343],"tags":[],"coauthors":[295],"class_list":["post-4738","post","type-post","status-publish","format-standard","hentry","category-robbins","category-corporate-ma-insights","category-divorce-family-law-insights","category-insights","category-wills-trusts-estates-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Estate Planning With Family Businesses &#8212; February 25, 2021 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"To the owners of family businesses, estate planning can sometimes be an after-thought. Owners are often so involved in building their business and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Estate Planning With Family Businesses &#8212; February 25, 2021 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"og:description\" content=\"To the owners of family businesses, estate planning can sometimes be an after-thought. Owners are often so involved in building their business and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html\" \/>\n<meta property=\"og:site_name\" content=\"Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-25T15:41:43+00:00\" \/>\n<meta name=\"author\" content=\"Anne Marie Robbins\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Marie Robbins\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Estate Planning With Family Businesses &#8212; February 25, 2021 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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Firm News &amp; Events","article_published_time":"2021-02-25T15:41:43+00:00","author":"Anne Marie Robbins","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anne Marie Robbins","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html#article","isPartOf":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html"},"author":{"name":"Lindabury, McCormick, Estabrook &amp; Cooper, P.C.","@id":"https:\/\/www.lindabury.com\/firm\/#\/schema\/person\/429b3bd6b52a7aa6eb9a0709bbb4d06f"},"headline":"Estate Planning With Family Businesses","datePublished":"2021-02-25T15:41:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html"},"wordCount":568,"articleSection":["Anne Marie Robbins","Corporate and M&amp;A","Divorce &amp; Family Law","Insights","Wills, Trusts &amp; Estates"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html","url":"https:\/\/www.lindabury.com\/firm\/insights\/estate-planning-with-family-businesses.html","name":"Estate Planning With Family Businesses &#8212; February 25, 2021 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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