Yellow metal sign.Angelica Bux and her son Duke own a fast-growing, family business Blue Skies Air Conditioning and Heating, LLC in Cotulla Texas. Angelica plans to retire by selling Blue Skies to Duke to fund her retirement.  Their business consultant developed their near-term plan to expand and maximize their business’ value. More recently, their tax and estate planning lawyers outlined an effective tax transition plan and the formation of a Blue Skies’ advisory team to support Duke’s management after the sale. To complete the purchase, should Duke buy the assets or Angelica’s membership interest in the Blue Skies’ limited liability company? Often buyers prefer to purchase the company’s assets, and sellers would rather sell the entire company. Why is that? Does an inter-family sale affect their decision?
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