{"id":951,"date":"2020-04-27T10:03:29","date_gmt":"2020-04-27T10:03:29","guid":{"rendered":"http:\/\/test\/?post_type=cpt_services&#038;p=951"},"modified":"2025-09-12T16:50:51","modified_gmt":"2025-09-12T16:50:51","slug":"succession-planning","status":"publish","type":"cpt_services","link":"https:\/\/basi.jamesarthur.dev\/legal\/services\/succession-planning\/","title":{"rendered":"Succession Planning"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"951\" class=\"elementor elementor-951\">\n\t\t\t\t<div class=\"e-con-gap-no elementor-element elementor-element-39b65000 e-flex e-con-boxed sc_layouts_column_icons_position_left e-con e-parent\" data-id=\"39b65000\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-6c65f78 e-con-full e-flex sc_layouts_column_icons_position_left e-con e-child\" data-id=\"6c65f78\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-56da084b sc_fly_static elementor-widget elementor-widget-text-editor\" data-id=\"56da084b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\"><p class=\"wp-block-paragraph\"><strong>The need for business succession is essential for anyone involved in an ownership position or contemplating becoming an owner. Planning for the business executive of a closely held and family-owned company involves special tax and non-tax considerations. Some of the primary goals of such executives include:<\/strong><\/p>\n<ul class=\"font_7 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_7 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">They are maintaining\u00a0control of the business among desired individuals during their lifetime and at death.<\/span><\/p>\n<\/li>\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_7 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Providing adequate income during retirement and for your family upon your death.<\/span><\/p>\n<\/li>\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_7 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Minimizing estate and gift tax liability.<\/span><\/p>\n<\/li>\n<\/ul>\n<p><br \/><strong>Succession planning is essential to ensure the continuity of your business. The professionals at The Center will:<\/strong><\/p>\n<ul class=\"font_7 wixui-rich-text__text\">\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_7 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Consider the impact of the tax laws.<\/span><\/p>\n<\/li>\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_7 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Create a plan to maximize your benefits.<\/span><\/p>\n<\/li>\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_7 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Develop a succession strategy.<\/span><\/p>\n<\/li>\n<li class=\"wixui-rich-text__text\">\n<p class=\"font_7 wixui-rich-text__text\"><span class=\"wixui-rich-text__text\">Negotiate and implement the transfer of your company.\u200b<\/span><\/p>\n<\/li>\n<\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-438242d sc_fly_static elementor-widget elementor-widget-spacer\" data-id=\"438242d\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2760e46 elementor-align-left sc_fly_static elementor-widget elementor-widget-button\" data-id=\"2760e46\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/basi.jamesarthur.dev\/legal\/wp-content\/uploads\/2025\/04\/basi-legal-business-valuation-succession-planning-info.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Begin your succession plan<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Lorem ipsum dolor sit amet<\/p>\n","protected":false},"author":1,"featured_media":22735,"comment_status":"closed","ping_status":"closed","template":"","cpt_services_group":[28],"class_list":["post-951","cpt_services","type-cpt_services","status-publish","has-post-thumbnail","hentry","cpt_services_group-legal-services"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Succession Planning - Basi, Basi &amp; 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