Important decisions

Published Saturday, July 01, 2006

TRUCK FLEET owners who wish to successfully pass their company on to their heirs not only should have a well thought-out plan in place, they should review and update plans periodically, said Terry Resnick of Resnick and Associates at the National Tank Truck Carriers annual conference May 7-9 in San Antonio TX. “These issues may be more important than running a company on a daily basis,” Resnick said. Inefficient succession/estate planning has led to two out of three family businesses failing to be passed down to the second generation, he said. To avoid tax and other inheritance pitfalls, ...

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