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Financial Planning Competency Handbook, 2nd Edition by CFP Board

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CHAPTER 68 Intra-Family and Other Business Transfer Techniques

Elissa Buie, MBA, CFP®

Golden Gate University

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Intra-family and other business transfer is an extremely complex area of financial planning analysis. The successful financial planning analysis and resulting recommendations require an expertise in every topic area. The analysis of family financial statements and cash flow management, financing strategies, and time value of money concepts are all critical. There will often be insurance planning as well as risk management analysis required. The impact on and of the family’s investments is relevant. Often there will be a retirement planning component for the generation transferring the business, and any strategies that could affect gift taxes, estate taxes, and income taxes will all need to be considered. Obviously, these transfer techniques are extremely complex, requiring excellent communication skills on the part of the financial planner. Business transfer planning and analysis require working alongside other professionals, such as estate planning attorneys, tax accountants, and insurance agents. Good interpersonal communication will facilitate the work of the group of advisors for the benefit of the client. And finally, as with every aspect of financial planning, the planner must adhere to ethical standards of professional conduct and fiduciary ...

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