We help businesses adapt to the changing economic and regulatory environment, and plan for life's contingencies. Our attorneys help business owners consider their options for retirement or exit strategy from a business.  An attorney from the group can help you plan an exit strategy from you business, whether in the form of retirement, partial retirement, lifetime transfers of the business to the second generation through gifts or sales, the sale of the business, or planning to transfer the business as part of an estate plan.

Family Business Succession

Our attorneys understand that entrepreneurs and founders who build a business from the ground up typically want that business to continue after they have retired or are deceased. An attorney can help you plan in advance for an orderly tax-efficient transfer of the management and ownership of your closely-held company to new executives and owners.

Sole proprietors and sole shareholders of companies often want their business to pass to their children or other family members. We add value to our clients by planning and structuring transfers of the business as part of a gift and estate plan, or through installment sales to select family members or a trust for the benefit of those family members, in ways that are designed to minimize the overall gift and estate tax liability.

Partnerships Business Succession

When a closely held business is owned by more than one shareholder, our attorneys work with the owners to prepare and adopt buy-sell agreements or shareholder agreements that set out the terms of an orderly transfer of the shares of a retiring or deceased shareholder to the remaining shareholders. An attorney can work with you to plan for the adequate funding of a buy-sell agreement, and structure the buy-out arrangement to minimize the tax liability of the company and the individual shareholders.

Selling the Business

Our attorneys understand that selling a business is the appropriate exit strategy for a business owner looking forward to an eventual retirement. We work with the business owner to prepare the business for the eventual sale, identify and qualify an appropriate buyer of the business whether a third party buyer, or through a management buy-out, and represent the seller in the ultimate sale of the business.

CONTACT US

To speak to an attorney about business succession planning, please contact us here or call us at 713.650.9700.

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