{"id":108,"date":"2016-04-21T10:51:22","date_gmt":"2016-04-21T10:51:22","guid":{"rendered":"https:\/\/directcpa.com\/?p=108"},"modified":"2016-05-25T11:28:00","modified_gmt":"2016-05-25T11:28:00","slug":"the-importance-of-succession-planning-in-business","status":"publish","type":"post","link":"https:\/\/directcpa.com\/pt-br\/the-importance-of-succession-planning-in-business\/","title":{"rendered":"The Importance of Succession Planning in Business"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" data-id=\"264\"  src=\"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3.jpg\" alt=\"3\" width=\"500\" height=\"450\" class=\"alignnone size-full wp-image-264\" srcset=\"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3.jpg 500w, https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3-150x135.jpg 150w, https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3-278x250.jpg 278w, https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3-100x90.jpg 100w, https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3-200x180.jpg 200w, https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3-300x270.jpg 300w, https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/3-450x405.jpg 450w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/>No matter what line of work you are in, getting your own business up and running is no small feat. With so many moving parts to keep track of\u2014insurance policies, employees, taxes\u2014arranging a contingency plan for if something were to happen to you can feel like a low-priority task. But what\u2019s more important than protecting the future of everything you have worked so hard to build?<br \/>\nEvery business owner should consider: What will happen to my company if I die? If you don\u2019t have a formal, legal plan in place spelling out who will take the reins when you retire or pass away, you are putting your company\u2019s future in jeopardy and potentially exposing it to substantial tax liabilities.<br \/>\nBasically, businesses need a will, too. Whether you think you might sell the business before you retire or plan to pass the baton to a family member or colleague, a tax attorney can work with you to put a formal plan in writing.<br \/>\nSolid succession plans address the follow topics:<\/p>\n<ul>\n<li>The transfer of ownership of the business<\/li>\n<li>Delegation of responsibility and authority to successors<\/li>\n<li>Decision-making policies (identify potential outside advisors or managers should objective input be necessary)<\/li>\n<li>Development and training of successors, as possible<\/li>\n<li>Any involvement or considerations for the owner\u2019s family<\/li>\n<li>Treatment of current employees<\/li>\n<\/ul>\n<p>One thing to be aware of is that the value of your business might grow in between the time you finalize your estate planning and when you pass away. For tax purposes, the value that matters is the amount as of your date of death. Certain legal avenues, including trusts and insurance trusts, exist to protect the estate from high levels of taxes, which in turn ensures the full benefits\u2014and limited debts\u2014are passed on to your successors or your family. Consult your tax attorney to put these protections in place and maximize the health of your business for the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No matter what line of work you are in, getting your own business up and running is no small feat. With so many moving parts to keep track of\u2014insurance policies, employees,<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/directcpa.com\/pt-br\/the-importance-of-succession-planning-in-business\/\">Leia mais &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":2,"featured_media":109,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Importance of Succession Planning in Business - Rosillo &amp; Associates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/directcpa.com\/the-importance-of-succession-planning-in-business\/\" \/>\n<meta property=\"og:locale\" content=\"pt_BR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Importance of Succession Planning in Business - Rosillo &amp; Associates\" \/>\n<meta property=\"og:description\" content=\"No matter what line of work you are in, getting your own business up and running is no small feat. With so many moving parts to keep track of\u2014insurance policies, employees,Leia mais &#8250;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/directcpa.com\/the-importance-of-succession-planning-in-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Rosillo &amp; Associates\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-21T10:51:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-05-25T11:28:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/directcpa.com\/wp-content\/uploads\/2016\/04\/baton.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"frank.rosillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"frank.rosillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. tempo de leitura\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/the-importance-of-succession-planning-in-business\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/the-importance-of-succession-planning-in-business\\\/\"},\"author\":{\"name\":\"frank.rosillo\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/#\\\/schema\\\/person\\\/3bc2d34acf74ffa0d5a1f4cd772cdf2a\"},\"headline\":\"The Importance of Succession Planning in Business\",\"datePublished\":\"2016-04-21T10:51:22+00:00\",\"dateModified\":\"2016-05-25T11:28:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/the-importance-of-succession-planning-in-business\\\/\"},\"wordCount\":330,\"image\":{\"@id\":\"https:\\\/\\\/directcpa.com\\\/the-importance-of-succession-planning-in-business\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/directcpa.com\\\/wp-content\\\/uploads\\\/2016\\\/04\\\/baton.jpg\",\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"pt-BR\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/directcpa.com\\\/the-importance-of-succession-planning-in-business\\\/\",\"url\":\"https:\\\/\\\/directcpa.com\\\/the-importance-of-succession-planning-in-business\\\/\",\"name\":\"The Importance of Succession Planning in Business - Rosillo &amp; 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