What is a business succession plan?
Business succession planning protects the legacy of a business. The plan itself is both a process involving creating a set of contracts and procedures and using advice from trusted advisors to formulate a plan for both an expected and unexpected exit of the business owners.
Business Succession Planning Attorneys protect the business by collaborating with the business owner to create and implement the plan so that the business owner can enjoy the benefits of succession planning which include:
- Increased intangible value of the company
- A corporate structure that facilitates the retirement or exit of the owner
- A protected way to pass down the business to children or employees
- Assurance that the business can continue in the event of death incapacity of the owne
What is included in a business succession plan?
A business succession plan includes several components that work together to help protect the business. Our business succession attorneys help create the structure of the succession plan according to the short and long term goals of the business owner. Our business succession attorneys perform the following services:
- Succession Planning and exit strategies
- Business counseling
- Corporate governance advising
- Draft and review employment agreements and non-competes
- Corporate reorganization
- Business continuation planning
A complete business succession will involve the guidance of trusted advisors in other areas. We have developed a source of trusted advisors who help provide the other services that are important to business succession planning which include:
- Estate planning for business owners
- Revocable/Irrevocable trusts
- Financial advising
- Retirement planning
- Tax advising
Reach out to us today and get started with a business succession plan by clicking here. You may call at 954-282-9331 or go through our website’s contact form.
