How Not To Ruin The Holidays

During the holidays, business-owning families often find it necessary to consider business matters, such as family meetings, gifts of stock, and bonuses and dividends for family members. However, mixing sensitive compensation and estate-planning decisions with the holidays complicates matters. The discomfort can be so great that important decisions may be deferred for yet another year. With respect for the holidays and the mix of emotions they bring, and the awareness of the inevitable end of the fiscal year, several important seasonal thoughts are offered, including: 1. Family time is fun; refuse to let the family focus on business. 2. The senior generation needs to take larger year-end bonuses. 3. Make gifts of stock aggressively to solve estate tax problems; establish a gifting guideline appropriate to the business and family circumstances and stick with it every year until it becomes an automatic event.