Who Will Take Over the Business?: Succession Planning for the Canadian Business Family

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John Wiley & Sons, Sep 6, 2011 - Business & Economics - 160 pages
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As the first wave of Canadian baby boomers retire over the next few years, succession planning will be vital for the long-term survival of many businesses. Canada is about to see a huge transfer of wealth from this generation to the next, yet many businesses struggle to ensure a smooth transition of business management and ownership. For family-owned companies, the ramifications may be even more sweeping. The personal issues they face, compounding other day-to-day business concerns, range from planning for income taxes to maintaining interpersonal relationships with family members.

A good succession plan will manage a range of issues, such as people and talent, family dynamics, corporate structure, estate planning, insurance and share transfer, to name just a few. Who Will Take Over the Business? is for any business owner who wants to retire, sell, or transfer ownership of their business. It is designed to guide business owners through a comprehensive and strategic approach to the business succession process to ensure that the transition is carried out as smoothly as possible. Who Will Take Over the Business? is a must-have resource for every Canadian business owner.

 

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Contents

Victors Situation
3
Discussion Time
13
Laying the Groundwork
19
How Do I Sell a Company?
35
Getting Down to Business
39
Talking TaxesMaking a Good
53
Lets Make It LegalGetting
69
RESOLVING VICTORS DILEMMA
81
I Invested My Life in My Business
99
What Should My Estate Plan
111
Ensuring the OutcomeInnovative
125
Epilogue
135
Financial Data Atlas
143
Asset Allocation of
149
Index
159
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About the author (2011)

Susan Latremoille and Peter Creaghan, experienced financial advisors who custom-design an investment portfolio for the family that provides lifetime income, tax sheltered, for Victor and Anne, and guaranteed liquidity for their estates

Steve Landau and Pearl Schusheim, who are the architects of a tax plan that provides a substantial tax reduction on their transaction and diffuses an overlooked estate planning problem

Tony Ianni, an investment banker who provides the Banks family with a variety of liquidity options to consider, and who ultimately leads the family through the private equity transaction

Ron Prehogan, a specialist in resolving family business conflict, and Arnie Cader, who acts as an independent director to the family and the business

Linda Betts, who helps the family identify and strategize regarding the softer issues, and manage the family dynamics

Sheila Crummey, who crafts an estate plan for the family, and her partner Frank Archibald, a corporate lawyer who provides practical advice to the family on the sale of the business

These experts help Victor and Anne make an informed decision about Atlas Plastics, their future, and the future of their children—Anthony, Rose, Caitlin, and Robert. Financial security, peace of mind, and a path for the future success of Atlas Plastics are the outcomes Victor wanted to see—and all of these objectives are realized.

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