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A business partnership may be built on trust, but what happens when that trust is tested by death, disability, divorce, bankruptcy, retirement, or a falling-out?
A sophisticated buy-sell agreement can provide a clear framework for navigating these unexpected events, helping establish who buys, who sells, when an ownership transfer occurs, how the interest is valued, and how the purchase is funded.
In “Beyond the Handshake,” Steven Oh and Steven Hilton examine why wills, trusts, and basic business formation documents may not be enough to protect a closely held business and its owners. The authors explore common succession-planning pitfalls and the potential consequences involving ownership, valuation, liquidity, funding, and taxes.
The whitepaper also examines important tax considerations, including the transfer-for-value rule, company-paid life insurance premiums, and the estate-tax implications of the Supreme Court’s 2024 decision in Connelly v. United States.
For business owners and their advisors, the message is clear: a handshake may establish a partnership, but it may not protect it when circumstances change.
Read the Whitepaper
Discover the four critical elements of a properly structured buy-sell agreement, and the tax and succession-planning considerations that should not be overlooked.
Read & Download the Whitepaper. Click Here.
About Brown and Streza
Brown and Streza LLP is a law firm providing integrated legal services in tax, estate, trust, real estate, business, business succession planning, and charitable planning, including representing non-profits and religious organizations. Located in Orange County, California, we serve families, businesses, entrepreneurs, philanthropists, and charitable organizations, focusing on helping closely-held businesses and their owners achieve their goals. For more information, please visit our website.
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The need for fact-based reporting of issues important to family owned businesses and protecting a lifetime of savings has never been greater. Now more than ever, successful families and family owned businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to family owned businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.