Business Succession Plans

Closely held and family owned businesses represent complex challenges, especially following the termination, retirement, disability or passing of a principal owner.  Our Attorneys guide clients as owners in transferring the business value to or receiving the value from the other partners, shareholders or family members. Our planning techniques provided to  clients can minimize the tax consequences while preserving the operation of the business to provide cash flow to the departing owner or their heirs or successors.

Call (248) 643-9530 or email for a consultation.

Man In Hospital Bed

Business Succession Planning in Estates

A privately owned business or with only a few shareholders require business succession plans to ensure that the value of what has been created is paid to the surviving spouse, to other family members, or a retiring shareholder or member.  We recognize that each enterprise is unique, and our experienced planners have many options available to ease the burden of the business transfer to those clients who will continue to run the enterprise. These are just a few of the tools we use to solve these business succession issues:

  1. New classes of corporate stock or LLC membership interests
  2. Setting up family owned Corporations, Partnerships, or LLCs
  3. Buy-sell agreements, between owners and/or children and spouses
  4. Gifting ownership interests in business entities to spouses or children, and avoiding unnecessary taxation
  5. Life, disability, and key man insurances

A “Business Divorce” is always messy and expensive. Our well-seasoned staff offers solutions to minimize the disruption of these events when they occur.

See if our Buy-Sell / Merger and Acquisition services are right for you.

Learn more about Wills / Trusts / Probate / Business Succession Planning

Discover more about our Asset Protection Services

Call (248) 643-9530 or email for a consultation.

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