Most small businesses or family-owned business owners would like to see the legacy of the company, that they built, continue on long after their death. Whether that continuation is by another younger family member, stepping up to the plate, to run the business or an outright sale to an unrelated third party is determined by the current owners.  


Intra-Family Transfers:
These are business and property transfers that are done between direct relatives, related parties or children and grandchildren of the current business or property owners. There are several methods to initiate this transfer, many with favorable terms for the younger family member.

Other Business Transfer Techniques:
If there are no family members that can afford to buy or none that show an interest in continuing the business, then the owners may need to look at third party buyers. The buy-sell agreement is commonly used for third party sales.

Buy-Sell Agreements, Installment Notes, Self-Canceling Note

Related Articles
  1. Small Business

    Keeping Your Business Investment on Track

    Business owners need to track business value and performance like any other investment.
  2. Retirement

    Keep the Family Business Alive With a Succession Plan

    Having a succession plan ready is the key to a family business surviving the next generation.
  3. Small Business

    Can Your Family Business Keep Up With Growth?

    Family business owners need to factor in the growth rate of future generations and plan ahead.
  4. Small Business

    Which Type of Organization Is Best For Your Business?

    Learn the differences between the types of business organizations so you can determine how to best structure your business for tax and liability limitations.
  5. Financial Advisor

    Financial Advisors Should Cater to Small Business Needs

    One of the most precious commodities for small business owners is time, which presents opportunities for financial advisors who cater to these clients.
  6. Small Business

    Exit Strategies for Business Owners

    Ideally, an exit strategy is planned early in the life of the business, begin with the end in mind.
  7. Personal Finance

    Why a Family Business Succession Plan Is Crucial

    Successful family-owned businesses have a well-designed succession plan in place.
  8. Small Business

    Successful Succession Plans Depend on Your Team

    It's important to have the right team in place to handle the succession of your family business.
  9. Small Business

    Has Nepotism Ever Worked?

    It may very well be that hiring a relative is the right course of action for you. But before you do, carefully consider how hiring family could hurt your business.
  10. Personal Finance

    Succession Planning: One Size Does Not Fit All

    There is no one size fits all succession planning solution for family businesses.
Frequently Asked Questions
  1. When are Beneficiaries of a Will Notified?

    Learn when the beneficiaries of a will must be notified, and understand how this requirement varies depending on whether ...
  2. Why Does Larry Page Pay Himself a $1 Salary?

    Google co-founder Larry Page continues to take an annual salary of only $1 as chief executive officer.
  3. What is Common Stock and Preferred Stock?

    Learn about the differences between common and preferred shares. Explore situations where preferred shares have more favorable ...
  4. Can CareCredit be Used for Family Members?

    Learn more about the available options that CareCredit offers to pay for out-of-pocket medical procedures with little to ...
Trading Center