Some experts say that nearly 70% of the businesses sold in the next decade will belong to retiring baby boomers. The estimated value of these businesses represents approximately $10 trillion in personal net worth.

Perhaps one of the biggest challenges these owners will ever face will be what to do with these businesses when it is time to retire or move on to the next stage of life. The process of choosing and implementing a plan can be difficult and there are many ways to approach the development of the succession plan.

We have assisted many clients with their succession plans. The issues they often face are:

• Considerations in leaving the business within the family or an outside sale

• Considerations in addressing a buy/sell agreement among owners

• The issues that may arise if the business must be sold

• The value of their business

• Income, gift, and estate tax considerations

277 Fairfield Road, Suite 300 Fairfield, NJ 07004 T - 973-882-0300 F - 973-882-0085 E-mail