Vlahos, Business Succession and Trust Fund Taxes: Lessons for Owners and Their Beneficiaries?

Lou Vlahos has made available for download his article describing lessons for business owners and their beneficiaries. According to Vlahos, “It may be the dream of every parent who owns a closely held business that one or more of their children will follow in their footsteps. They envision a time when a child will enter the business as an employee, learn the ‘ins and outs’ of the business, pay their dues, move up the ranks and, one day, assume the mantle of leadership as the parent heads off to their new pastime, secure in the knowledge that they have left their child with a good business, and equally secure in the knowledge that the business they have built is in good hands. If all goes to plan, the parent will make a gift of equity in the business to the child, or they will bequeath the business to the child.” Vlahos continues, “Unfortunately, things don’t always turn out as we hoped they would. Remember Don Corleone in the garden, after his youngest son, Michael, has told him that he has assumed control of the family business? ‘I never wanted this for you.’ The Don foresaw the troubled life that Michael had chosen. Unfortunately, it seems that some parents would knowingly put their children in harm’s way – indeed, even throw them under the proverbial bus – and there are those children who learn all the wrong things from their parents. Both of these situations are found in the case described below.”

Download the full article by clicking Vlahos, Business Succession and Trust Fund Taxes: Lessons for Owners and Their Beneficiaries?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s