Business Succession Planning
For private, owner-managed, or family-owned businesses, a solid succession plan can drive the growth of the business, reduce taxes, and set the stage for retirement. It can also provide peace of mind for you, the owner, knowing that you have prepared for the future to protect yourself, your business, and your family.
You may want your business venture to continue under the leadership of a next generation, or you may realize that the business should be sold – either way, we can help you evaluate available options when it comes to transitioning out of the business you have worked so hard to build. We can advise on business succession strategies for owners planning to bequeath or sell to family members, existing employees, co-owners and partners, or third-party purchasers.
Having a written plan in place also protects you in the eventuality a partnership deteriorates, or one or more partners wants out. We help you address the most important aspects of business succession:
- Ownership transfer
- Governance, and
- Management succession
Change can happen in an instant and we advise clients to start planning early to avoid unintended consequences in the event of an owner’s unexpected death or incapacity, and to ensure your dreams for your business are achieved.
Business succession and estate planning services are also offered in our fixed-fee subscription-based legal services model. They are included at no charge in the top tiers of My Outside General Counsel.