Business succession planning is about relationships. The founder of a business must naturally have confidence in the successor, and the successor must be empowered to lead, and management must support the succession. A business succession plan must connect these relationships in a manner that fulfills the economic goals, personal expectations, taxation objectives, and time frames of all key players. These goals and objectives, and the plan for achieving them, should be developed long before a business transition is imminent.
Our attorneys are experienced in working with all types of businesses on the preparation and implementation of the right plan in the right time frame to coordinate the transition of ownership, control and compensation, while reinforcing and fostering the relationships that support and drive the business. We recognize the sensitive and intricate issues involved in succession planning, and we take great effort to properly guide owners, successors, and management in a mutually beneficial transition strategy. Contact us to discuss your needs:
- Structuring key management acquisitions
- Identifying and mentoring successors
- Family business succession counseling
- Business restructuring
- Preserving company legacy
- Compensation and other financial objectives
Article of Interest:
The Psychology of Business Succession Planning