12/04/2023

040. Succession Planning & Estate Planning (Two Part Session) (afternoon)

Instructor: Roman Basi and Dr. Bart Basi

Level of Complexity: Intermediate
1:30 PM - 4:30 PM

This afternoon session will be in two parts.

First Half Details: Present the need for all private companies to have a succession plan.  This part of the program will stress the need for the selection of successors, the use of insurance, buy-sell agreements, deferred compensation programs, and other considerations for developing a succession plan.  In addition, Bart and Roman will present the actual manner in which they transferred the Center for Financial, Legal, and Tax Planning, Inc to Roman from Bart.

Second Half Details: Attendees will be split, with the younger individuals that wish to buy in or receive ownership of a company working with Roman, in a room separate from Bart; while the older individuals that wish to retire/transfer, or sell their business will work with Bart on issues that should be considered in their retirement and separation from their business, including the need for estate planning, especially regarding the effect of taxes on their decisions.