Business Succession Planning
Our attorneys understand that every business has its own story and unique circumstances. For some, the goal is to achieve the largest return on the sale of the company. For others, it is to devise and execute a strategy of management transference that will minimize disruption and set the stage for the next generation.
The facts remain, approximately two-thirds of family owned businesses fail to be passed on to the next generation. Of those that do, close to 50 percent don't survive the transition from second to third generation ownership.
Our attorneys appreciate the human dynamics involved in business succession planning and provide experienced and comprehensive services that are tailored to each client’s specific needs and objectives. Our integrated team approach takes into consideration many factors, including:
Family estate planning;
- Tax strategies;
- Cash needs in the event of death;
- Retirement or disability;
- Exit strategies;
- Asset protection; and
- The preparation of “transition” arrangements such as buy-sell agreements and leveraged Employee Stock Option Plan (“ESOP”) structures.