Your family’s future is directly tied to the success of your business until after you step down. Knowing what will happen to your business before you leave, regardless of circumstances, will give you peace of mind, and serve to provide continuity to the business, its customers and employees. Most importantly, it also addresses the many sensitive and emotional issues that are often involved.
Owners achieve the best overall outcomes by creating a business succession plan in tandem with their estate plan — far in advance of its actualization— because both share many of the same goals, including preserving assets and protecting family. Business succession planning often includes structuring your estate plan to protect your business assets and minimize the tax consequences of transferring your business after your death.
We work with many clients at the onset of incorporation, to help them choose and form the appropriate entity to meet their business planning needs, and, if requested, we will assist clients with the maintenance of those entities. TMLG has vast experience preparing important agreements, including:
· Shareholder Agreements
· Partnership Agreements
· Family Limited Partnerships
· Operating agreements
· Buy-Sell Agreements
· Installment Sales.
Call us today, your legacy is our business: The Michael Law Group or by calling us at (312) 900 0150