How to Make a Directed Transfer of Your Fishing Business

How to Make a Directed Transfer of Your Fishing Business

Sunny Rice

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Description

Will your boat and permits remain in your family or community after you retire? The amount of capital required to enter the fishing business has increased, decreasing the likelihood that a new fishermen will be able to buy your business in one transaction. With forethought, however, you can still pass all or most of your business assets to a person or group in a "directed transfer."

How to Make a Directed Transfer of Your Fishing Business introduces established fishermen to the subject of retiring from fishing, discusses transfer strategies, and examines tax/retirement implications. By encouraging established fishermen to pass on their business skills, this book also helps foster the next generation of Alaska fishermen.

This manual is part of the Alaska Fisheries Business Assistance Project (FishBiz), providing information and resources to Alaska's fishermen, processors, and marine-related businesses.

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