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AMBRECHT & ASSOCIATES
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Resources Pertaining to Family Business Succession PlanningOther Practice Areas:Asset ProtectionEstates and TrustsBusinesses Organizations and TransactionsTax LitigationCalifornia Real Property Taxation
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Family Business Succession PlanningThe real job of the lawyer is to preserve both the assets and the family relationships. We work with each client to identify that client's particular objectives and plan the means of accomplishing such objectives. Generally, the objectives include some or all of the following: Tax Savings -- To devise and implement various techniquest to minimize estate, gift, and generation-skipping transfer taxes for transfer of assets to succeeding generations. Liquidity -- To consider ways to efficiently pay estate taxes which may accrue as a result of a family member's death in order to preserve family assets for succeeding generations. Creditor Protection and Asset Preservation -- To arrange family assets to protect them from creditors to the maximum extent possible with minimum family discomfort. (See also Asset Protection.) Enhance Family Communication -- To enhance internal family communication, particularly in the business context, thus improving family relations in order to improve management of family assets, enjoyment of the family business relationship, and to minimize misunderstanding or disharmony when a family member passes away. Development of Succeeding Generations -- To increase the family's awareness of problems that often beset children and grandchildren who may inherit considerable wealth, and provide the family with some proven suggestions on how to minimize the risks associated therewith. Continuity of Business Management -- To provide for future management of the family business into the second and third generations of family owners. Expanding beyond the resources of our firm, John W. Ambrecht is affiliated with California Trust and Estate Counsellors, LLP (CALTEC), a unique organization of highly qualified and experienced trust and estate attorneys; and are a member of the Family Firm Institute, Attorneys for Family Held Enterprises (AFHE), and Association for Psycholotical Types (APT).
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