Business owners in Kentucky face unique challenges when it comes to estate planning, especially as inheritance tax laws evolve. Trusts offer a versatile solution for managing assets and minimizing tax burdens, ensuring the seamless transfer of business interests to...
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Business Succession
The role of buy-sell agreements in business transitions
Buy-sell agreements are important tools in business transitions, acting as safety nets that ensure smooth operational continuity when changes in ownership occur. These legal documents detail how to reallocate a business owner's share if they choose to leave the...
What to consider when selling a business in Kentucky
If you have been a business owner for a while, a time may come when you want to sell your company. From retirement to a change in business goals, there are many reasons why an entrepreneur might want to sell. Get a comprehensive valuation of the business Before you...
Equally dividing a business among the kids may be a mistake
Many parents go to great lengths to treat their children equally. So, it should be no surprise that business owners often will try to divide the family business equally among the children, regardless of the number. However, some business experts believe owners should...
5 steps for a forward-looking business succession plan
When it’s time for you to retire or sell your business, do you want the person taking your place to do things exactly how you’ve done them through the years? If so, that could be a mistake. Preserving what you’ve built means it’s essential to understand how many of...