Business Succession Planning
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 an attorney and financial specialist 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 us today to get started.
What is
Business Succession Planning?
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