For those who have spent a lifetime growing a business and tackling the many day-to-day challenges along the way, thinking about “what comes after” in the event of your disability, retirement, or death may not be something you’ve put much thought into.
But putting a business succession plan in place before it is actually needed can not only serve to provide continuity to the business, its customers, and employees, but also address upfront the many sensitive and emotional issues that are often attached to family businesses. With the proper advice and guidance, a family business can transition smoothly to the next generation or to a non-family owner through a well-crafted succession plan.
Our attorneys have designed and implemented many business succession plans and assisted business owners in making the right choices for their families and their business. Our succession planning attorneys will help you select from a number of potential legal structures designed to support your company, family, and vision, including:
- Family Limited Partnerships
- Family Limited Liability Companies
- Close-Corporation Agreements
- Buy-Sell Agreements
- Installment Sales
- Special Trusts
We also assist our clients in restructuring asset ownership to minimize estate taxes and probate-court involvement by providing creative planning techniques to minimize tax consequences. We’re here to help you guide your company into the future and protect its legacy.