Integrating Business Planning and Estate Planning for Utah Business Owners
For many small business owners, the lines between business assets and personal finances can be easy to blur, sometimes with highly unfortunate results. If you don't keep business and personal assets and liabilities strictly separate through proper organization and registration, personal assets can be reached to satisfy contract, tort or tax liabilities of the business. Likewise, business owners can encounter unsettling consequences and tax liabilities when proper succession or estate planning is not integrated into a business owner's overall planning scheme.
Our attorneys advise businesses of all types and sizes in regards to:
- Formation of business entities,
- Business succession planning,
- Valuation strategies,
- Family owned business interests,
- Asset protection,
- Annual corporate maintenance
UTAH BUSINESS PLANNING LAWYERS: CALL 801-463-2600
Planning for how you will exit from your business should be an integral part of your estate and retirement planning. Proper planning now can provide you with retirement income, reduced income and estate taxes, and even let you benefit a charity if you so choose, regardless of whether you transfer your business to family members at discounted values, to employees, or to an outside buyer. In today's market, the economy and trends are affecting the timing and value of business transfers. The attorneys of Alder & Robb combine financial, tax, and estate planning considerations in order to find the best combination of solutions available to maximize your estate and allow for a proper transfer of your interests while maintaining the most value possible.
For additional information about the relationship between business planning and estate planning in Utah, contact a Salt Lake City business planning attorney at Alder & Robb for a free consultation.
