Areas of Practice
Business and Succession Planning
Many of our clients who have closely held business interests seek the advice of our business attorneys when planning the structure and preparing the documentation for effective succession of the business to key employees or children who have been active in the business.
Our attorneys are experienced in assessing the current business structure, analyzing the needs of the business owner and seeking solutions to questions of retirement, disability or succession upon death. A business succession plan is created with our clients’ estate planning objectives in mind and usually includes wills and trusts, as well as separate Shareholder Agreements and Cross-Purchase Agreements.
Over a period of time, our business attorneys explore issues of when to retire, financial needs of our clients after retirement, the availability of successors, and whether a key employee should be hired and trained as a successor, the needs and expectations of family members both involved and uninvolved in the business, and the merits of selling the business outright. With great sensitivity to the life-work of our clients, our attorneys provide guidance and assistance as they plan to transition the business to the next generation of entrepreneurs.