Murad Ali Ahmad Al-Zaqeba2024-10-042024-10-0420242024-10-3Murad Ali Ahmad Al-Zaqeba. (2024). Inheritance Risk Management and Tax Breaks for Family Businesses. Academic Journal of Business and Social Sciences, 8(1), 1–30. https://myjms.mohe.gov.my/index.php/AJoBSS/article/view/276472590-440Xhttps://myjms.mohe.gov.my/index.php/AJoBSS/article/view/27647/15303https://oarep.usim.edu.my/handle/123456789/23246Academic Journal of Business and Social Sciences volume : 8 No: 1 (page: 1-30)This paper delves into the intricate landscape of inheritance risk management within family-owned businesses, emphasizing the utilization of tax benefits as a crucial aspect of navigating these complexities. Maintaining the longevity of family enterprises across generations is imperative for preserving wealth and ensuring economic stability. However, challenges such as intricate inheritance laws and potential estate taxes can impede smooth ownership transfers within family structures. Through an exploration of various legal frameworks and inheritance planning approaches, this paper investigates strategies aimed at mitigating these challenges. Estate planning instruments, such as wills and trusts, are examined for their role in safeguarding family enterprises against discord arising from inheritance disputes. However, this paper aims to investigate the effectiveness of various inheritance planning approaches in mitigating risks within family-owned businesses, evaluate the impact of current tax breaks and incentives on long-term profitability and succession planning for family enterprises. Moreover, the methodology employed in this study centers on a comprehensive review of scholarly articles, legal documents, government reports, and industry publications. The findings underscore the significance of strategic inheritance planning and tax optimization in ensuring the longevity and prosperity of family businesses. This paper contributes to the existing body of knowledge by shedding light on the intricate dynamics of inheritance risk management and tax planning within family-owned businesses. By offering practical insights and recommendations, it aims to empower family enterprises to navigate complex challenges effectively and sustainably. Future research endeavors could focus on examining the behavioral responses of individuals and families to inheritance taxes and their implications for wealth transfer strategies, conducting comparative studies across different jurisdictions to understand variations in tax implications for gifts and inheritance, longitudinal research to monitor the effects of tax law changes on wealth transfer effectiveness and family business sustainability.en-UStext::journal::journal article::research article13081