Closely Held Businesses
We often are called upon to help business owners plan for the eventual transfer of the business to family members, employees or a third party. For some business owners, succession planning can be a difficult process.
Fortunately, our attorneys have worked with companies to develop appropriate strategies (e.g., outright sale of the business, recapitalization, gift programs, ESOPs and shareholder agreements). We help clients make objective decisions to ensure a smooth transfer while considering the tax implications and the impact on estate plans. Among the planning tools we have used are family limited partnerships, private foundations and qualified residence trusts.
Fortunately, our attorneys have worked with companies to develop appropriate strategies (e.g., outright sale of the business, recapitalization, gift programs, ESOPs and shareholder agreements). We help clients make objective decisions to ensure a smooth transfer while considering the tax implications and the impact on estate plans. Among the planning tools we have used are family limited partnerships, private foundations and qualified residence trusts.