Trusts and Estates
Business Succession Planning
The Firm's attorneys assist family-owned businesses with varied needs, including corporate formation and business counseling, the purchase and sale of businesses, financing, the issuance and repurchase of equity, governance matters, and capital formation and structure. Many of our business attorneys, as well as our trusts and estates attorneys, act as "outside" general counsel to family-owned businesses. This arrangement gives the family-owned business and its management a point person at our firm to contact when legal issues arise. We also work closely with our trust and estates attorneys to plan for the future of the business, whether it involves business succession planning for the next generation or the sale of an enterprise.
Business succession planning includes the use of sophisticated techniques to transfer ownership interests in closely held businesses with the minimum possible tax cost. Our business succession planning also focuses on the successful and efficient transfer of business management and control. Each plan is specifically tailored to the client, with particular consideration to the interest and ability of the next generation to manage the business, the relationships among various branches of the family, and the long term family and business goals.
Business succession planning includes, but is not limited to:
- Grantor retained annuity trusts
- Sale of minority interests
- Formation and administration of family limited liability companies
- Buy-sell agreements and other shareholders' agreements
- Employment agreements
