Philanthropy and Legacy Building Strategies: A Holistic Approach to Business Exit Planning
When selling or transitioning out of a family business the most often neglected factor in the total equation is the fact that this business owner will now have access to more “cash” than ever in his or her entire lifetime
- How to spend the money wisely is the most difficult of decisions.
- How will the business owner be able to minimize tax and maximize the value received from this sale of all or part of the assets of the company?
- Does the business owner want to create a legacy to pass on to his/her children? If yes, what form will that take and how will it continue to be funded?
- If the donor is at all charitable and/or this is something he or she would like to inculcate into their kids how will this happen? What shape will it take?
- How will this be funded?
Learn some of the answers and approaches that the business owner can contemplate and choose from to make his/her life without the “business” as rewarding…if, not more so…than it was pre-exit.
Moderators: Baruch Littman, Vice President, Development, Jewish Community Foundation of Los Angeles
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