Midmarketwiki entry for Estate-Tax Planning (10th step):
Action Step 10 - This entire process requires great sensitivity to the need for wealth preservation planning.
The sale of a business generates cash. Cash for the former owner, his family, and to some extent yet to be determined, the IRS. Few owners have great tolerance for the full share the IRS could take from the sale proceeds. For this reason, knowledgeable business owners preserve wealth for themselves and their families through the proactive design and implementation of wealth preservation strategies well in advance of any transfer ownership.
