How to Pass a Business to Your Kids

What happens to your business when you retire, or worse, pass away unexpectedly? If your goal is to keep it in the family, this video gives you a clear, realistic roadmap to make it happen without tearing the family apart.

CPA and attorney Mark J. Kohler walks through five essential steps for successful family business succession: start planning early, choose and develop a clear leader, lock in your estate plan with a revocable living trust and a business continuation plan, equalize inheritances (often with life insurance), and craft a practical exit plan using tools like asset purchase agreements and promissory notes. You’ll learn common pitfalls, how to fund your own retirement without starving the next generation, and ways to keep peace among siblings while protecting your legacy.

If this helped, please like the video, subscribe, and comment with your biggest succession question!

CHAPTERS:
0:00 Intro
1:22 Start Planning Early
2:45 Choose the Right Leader
4:10 Estate Planning
6:44 Equalize Inheritances Fairly
7:34 Create the Exit Plan
9:34 Outro

Resources:
Connect with a Main Street Tax Pro that speaks Mark’s language: https://taxadvisornetwork.markjkohler.com/?utm_source=Rumble&utm_medium=description-link&utm_term=&utm_content=&utm_campaign=

Book a free 15-minute call with a lawyer at KKOS Lawyers: https://calendly.com/new-client-specialists/15min?utm_campaign=19412319-Marketing%202025&utm_source=youtube&utm_medium=social&utm_content=MJK

Self-direct your IRA or 401k at Directed IRA: https://directedira.com/appointment/

Keep your LLC or corporation compliant and protect your privacy with Main Street Business Services: https://meetings.mainstreetbusiness.com/meetings/mainstreet/newservices?