I have a client who is about to sell their business(business services firm, llc) for about 15MM. What kind of things should I be thinking about as I try to help her plan for this exit? More specifically im looking for help@thinking through the estate planning and tax implications.

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I have used the db cash balance and k plan if the proceeds are deposited to a management LLC.

Don’t let her sign anything to sell until you loop in an estate and tax attorney that can guide you. There are structures she can create to move the business into before the sale to greatly reduce cap gains tax.

What about his clients his book of business

If she’s single, note that Fed Limits are $12M - above that, estate taxes are 40%. I’d also be discussing asset protection and possible lifetime credit gifting while you can. Of course, ensure that she has a secure retirement income plan so she knows how much she needs for herself, and what may be excess for next gen legacy planning. Review insurances to see if it is still needed for income protection or better repurposed for legacy planning. Think long term care, for leveraging that possible risk. Ensure that your asset management plan is tied into her retirement income objectives (in estate) and legacy objectives (outside estate). Consider direct indexing and tax efficiency in portfolios, since all after-tax sale proceeds. That’s for starters. 😉👍

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