Why so many family business owners fear succession planning iStock/Thinkstock

Why so many family business owners fear succession planning

About one out of every three business owners who call me to do their estate plans own 51 percent of their business Why 51 percent? Hey, the fear of losing control My job is to come up with solid (also accepted by the IRS) solutions that will calm your business owner fears

Some things are downright scary. Try taxes — especially estate taxes. Can you guess what area in estate tax planning causes the most anguish? Hands down it’s business succession.

All successful business owners share a common future (no exceptions): someday they must pass the management baton. Most fear that day.

The 32nd president, FDR, said, “Fear paralyzes those who succumb to it.”

Following are six questions that lead the unwelcome fear

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TAGS: Taxes
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