No company can survive without an able owner or manager at the helm. In the event of a key person’s sudden death, illness, or retirement, businesses are often left scrambling to find a suitable replacement.
Large corporations and small businesses alike can avoid a tumultuous transition by establishing a succession plan.
Arrangements can be made that would transfer the owner or executive’s interest into trusts to be held by or paid out to family members. In some cases, assets may also be divided among employees or in other cases, it may be best to sell the company.
We assist owners and shareholders to put together a plan that facilitates a smooth transition.
Advanced Estate Planning
You've worked hard your whole life to provide for your family and make your loved ones more secure. Without advanced estate planning strategies, much of the significant assets you have accumulated may end up with the IRS and state taxing authorities. Read More
Family Limited Partnerships & LLCs
A Family Limited Partnership (FLP) and a Limited Liability Company (LLC) can be a form of ownership among members of a family. The main advantages of such entities are estate and gift tax savings and asset protection. An FLP or LLC also allows you to retain control over the transferred assets while enjoying these advantages. Read More
People are increasingly using the legal system to unjustly deprive others of their life's work. Business owners, professionals such as doctors, dentists, lawyers, accountants, and property owners in particular are aware of the risks associated with conducting their business, practicing in their respective fields, and taking responsibility for others. Read More
Business Succession Planning
No company can survive without an able owner or manager at the helm. In the event of a key person’s sudden death, illness, or retirement, businesses are often left scrambling to find a suitable replacement. Read More