Family Business Planning
Overview
A business succession plan is an essential part of estate planning and critical to the future of your business. It determines what happens to your business upon your retirement, death, or incapacity, and ensures that your business continues to operate according to your wishes. The estate and family business planning attorneys at Kelley Kronenberg can help you evaluate your options and protect the future of your business with a well-thought-out business succession plan.
Creating a business succession plan requires you to consider the following:
- Who will be my successor?
- How will my business transfer to my successor?
- How much is my business worth?
- What will happen to my family?
- Can my family keep inheriting from my business?
- What will happen to my business partners and/or employees?
These questions are only a starting point. Each business owner’s concerns, circumstances, and desires are unique.
With so many factors to consider, it is important to consult with an experienced estate and family business planning attorney who understands all of the interests at stake and will hard work to protect them.
At Kelley Kronenberg, our team of knowledgeable and experienced estate planning attorneys can help you prepare for the future by ensuring that your financial plans and estate plans are aligned with a comprehensive business succession plan. Our attorneys work closely with clients to identify goals and objectives to create an individualized plan tailored to your business and address any sensitive or complex issues associated with transferring the family business.
