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Keeping family ties together when selling the business

A family business might have several relatives on the payroll, besides furnishing the owner with a salary, health insurance, company cars and personal loans. But once the business is sold to outsiders, the relatives can lose their jobs, and the former owner’s lifestyle may have to be financed with wealth generated from the sale.

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Steps to ensure the price is right

After a lifetime spent growing a business from idea to thriving enterprise, the owner may dream of selling the company and walking away with enough money to retire in style. But the dream can become an illusion if the owner failed to plan the sale with an eye toward minimizing taxes and maximizing wealth.

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