Noncompete Agreements and Your Estate Plan
Huh? What do the FTC and its new restrictions on noncompete agreements have to do with estate planning? Maybe nothing, or maybe everything. If you have a closely held family business and you want to keep it in the family for the next generation, these new restrictions may derail those plans. That could be a huge problem for some family businesses. If your succession plan may be affected, you should immediately review and revise your business succession plan. As the new law is better understood, planning nuances become better understood. The inevitable legal challenges resolved, you should continue to monitor your succession plan in case it can be fine-tuned to protect your business continuation goals. More on this below, but first, a review of the new rules.
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