Succession planning can be a difficult process since both financial and nonfinancial aspects need to be considered. One must not only look at the tax effects but also analyze the ultimate goal when it comes to related parties. This session will discuss advantages and disadvantages of four common succession planning techniques: asset and stock sales, tax-free reorganizations, employee stock ownership plans (ESOPs), and gifting. Each scenario offers both tax and nontax planning opportunities unique for both buyers and sellers. We will also discuss planning techniques commonly used to maximize sales price when transitioning your business.