Business Succession

Business Succession Planning for Closely Held Companies

Business succession planning is important for closely-held companies. We regularly advise closely-held and family-owned businesses about all of the legal, income and estate tax aspects of business succession.

Planning for the future of a closely-held business is a very personal matter that requires a clear understanding of the business, the founders’ intent, and the founders’ plan for their estate and business legacy.  We help the client take into account all of the financial, legal, and emotional issues of selling a business that the founder personally built and invested so much into.  Our attorneys counsel our clients on the business succession options, ranging from the sale of their business through an auction process, management buyouts through third party financing, or the gift or bequest of the business to the next generation as part of the client’s estate plan.

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