Defining a solid exit strategy and preparing for a smooth and equitable transition of ownership is a critical part of any company’s overall business and estate plan.
Whether a business owner is considering retirement and a transfer of ownership or a company finds themselves facing a key member’s sudden death, disability, or illness, a properly formulated business succession plan can prevent an organization from experiencing a tumultuous transition or loss of assets.
Leech Tishman’s Corporate Practice Group attorneys work closely with the firm’s Estates & Trusts, Tax, and ERISA, Employee Benefits & Executive Compensation attorneys to counsel business owners on all aspects of business succession planning including the analysis of personal, business, financial, legal, and tax aspects of a business. We are highly-skilled in developing customized solutions to maximize proceeds while minimizing risk.
- Business valuation
- Selection of new investors
- Life insurance arrangements including cross-purchase and entity purchase agreements and first-to-die policies
- Retention planning including buy-sell agreements
- Non-compete agreements
- Executive compensation planning includes stock options and deferred compensation
- Wealth transfer through trusts
- Estate and tax planning
Business succession planning often begins at least 15 years before the anticipated end or transfer of a business. Effective planning can ensure the smooth transfer of a business to the next generation.