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    How to Transfer Business Ownership


    by meganoneal


    Whether it is a proactive move to family, staff or a third party; or an unexpected transfer such as in the death of the owner, the core of any successful business transfer begins by preparing for that transfer long before the actual need arises. Evaluating business processes and procedures as well as the effectiveness of a management team, defining the structure of the transfer and creating a plan to achieve the owner's desired results are all strategic elements that will help to minimize taxes, maximize profits, and allow the business owner to maintain control of the situation so that all aspects can be done on the owner's terms.