How does estate planning differ for business owners?

Business owners face estate planning complexity that goes well beyond what most individuals encounter — their largest and most illiquid asset is typically their business interest, which must be valued, structured, and transferred in a manner that is tax-efficient, operationally workable, and legally sound. Key estate planning considerations for business owners include the valuation of their business interest for estate and gift tax purposes, the use of valuation discounts for lack of control and lack of marketability to reduce the taxable value of transferred interests, the structure of buy-sell agreements and how they interact with estate planning, the tax implications of different business succession strategies, and the coordination of business transition planning with the broader estate plan. Yeo & Yeo’s integrated team of estate tax, business valuation, and business transition advisors works together to address all of these dimensions in a coordinated strategy that serves both your business goals and your estate planning objectives.