Amid a booming economy and political uncertainty, wealth advisers are encouraging family-owned businesses to sell before the “party ends,” according to an article in Bloomberg. For now, there are plenty of deep-pocketed buyers and the tax picture is favorable. But, if Democrats prevail in the next election, taxes on the rich are likely to go up. Indeed, some business owners are catching on. “There is an acceleration of a desire to sell,” says Joan Crain, global family wealth strategist at Bank of New York Mellon Corp., in the article. She says clients who were “lackadaisical” are now “very motivated” to sell.

Some older owners cling to the hope that the kids will step into their shoes and take over the business. But advisers often need to offer a reality check about that daydream. “We can see objectively that’s not going to happen—time is running out,” Crain says. “Sometimes we have to nudge them.” This point was made during the last AICPA FVS Conference in a session on estate planning for valuation experts. The speakers, Lisa Cribben (Wipfli) and attorney Pamela Schneider (recently retired from Wipfli), told the audience that many more firms will be coming onto the market because the owners’ children just don’t want the family business. They also explained why estate planning is an important process for valuation professionals to understand, given the opportunities that will emerge.