Business Succession

Eventually, every business owner will leave their business. Without a proper plan in place, a lawyer, family member, key employee or even a government statute could decide what happens to your business once you leave. Business succession planning is putting the process of leaving your business under your control.

Developing a succession plan involves looking to the future of the company and your heirs. A plan may be crafted to provide for your children financially while being placed under the management of another party or it may involve your children taking over management.

We will work with you to discover your objectives and develop the best possible plan for the succession of your business ownership interest. Your plan may include transition to family members or inside key employees, dissolution, or simply a way to exit from the business. We will discuss your time frame for the transition, the various parties involved in the process, and any financial requirements you may have.

Business succession planning can be complex. However, if done properly, it can minimize tax liabilities passed down to heirs, preserve the strength of a company, provide security for heirs, and leave a legacy for the company founder.

For a complimentary no-obligation consultation,
contact us at (702) 257-7575 or bborg@lubberslaw.com.