A Collaborative estate planning attorney and financial specialist team can ensure that all family members are heard and acknowledged when business succession planning begins. Many families face the challenges of continuing a family business as an older generation becomes less active and shares the responsibility of running a family business with the next generation.  Let our team of professionals assist you in creating a solid plan for your future without court litigations!

Choose a financial specialist and attorney to collaborate with you, your business partners, and family and lead your business into the future with a solid succession plan. We are located in and serve many counties, including Bucks, Montgomery, Delaware, Chester, and Philadelphia.

Contact a member of Collaborative Law Professionals of Southeastern Pennsylvania.

What is Business Succession Planning?

Business Succession Planning is the process of determining the future ownership and
management of a company as well as the detailed steps and timeframe for achieving the
transition to this new ownership and management.

Common Issues with Business Succession Planning

Disagreements among stakeholders (shareholders, partners, family members and/or
managers) with regards to certain Business Succession Planning issues may lead to
litigation. These issues may include:

  • Determining whether or not to sell the business to a third party
  • Determining the value of the business in order to facilitate the sale of the
    business

If the business is to be retained instead of being sold:

  • Determining who the successor owners and/or managers will be
  • Determining the business succession timeframe
  • Determining the value of the business in order to facilitate “cashing out” of
    existing owners and/or those who are allowed to “cash out” under the business
    succession plan
  • Gifting of ownership interests to successor owners

Business Succession Planning Advice