Areas Of Practice

Business Planning - Business Succession Planning

Many of our clients are business owners who have been very successful at working IN their business but who have neglected to work ON their business. We are often asked to assist in restructuring business entities to achieve better income tax, estate tax or retirement savings opportunities. We also restructure business entities to achieve better asset protection for business owners or to create a more effective means for business owners to capitalize on growth opportunities.

The majority of small businesses do not survive the transition from ownership and control by a senior generation to the next generation. Fewer businesses yet (only about 15%) survive a transition to a third generation of family control. We can help business owners beat these odds by working with other advisors (including accountants and financial advisors) to create thoughtful business succession plans and implement the proper legal structures to make them function effectively.

Some of the tools we use in business planning and business succession planning include the following:

  • Corporations
  • Limited Liability Companies
  • Limited Partnerships
  • Buy-Sell Agreements
  • Deferred Compensation Agreements
  • Stay Bonus Arrangements
  • Employment Agreements