Hope for the best, but plan …
Hope for the best, but plan to pass on your business to your family, partners or employees. You worked long, often hard years to build your business. You left nothing to chance. Don’t leave your business succession to chance, either.
I’ll work with your partners, accountant and financial planner to come up with a business succession strategy that lets you decide what happens to your business when you are ready to move on. Succession issues can get complex very quickly. When the unfortunate happens, your business partners can be left with a surviving spouse or family that owns part of the business but has no interest in running it. Often this can lead to business breakups, or hastily put together buyouts, because no partner in a small, hard-working business wants to give a partner’s share away to someone who is not contributing to the success.
A properly planned and funded succession buyout can insure that the residual value of the business strong for the remaining partners, while monetizing your share of the business for your survivors or key employees.
Business succession includes:
• Ownership business succession on retirement, death or disability
• Buyouts by surviving shareholders or partners
• Structured and proxy voting
• Living wills, health care power of attorney
• Implementing your long-term strategic vision
• Maximize retirement income
Not sure if you need a lawyer? Give me a call and we’ll talk about how I can help you plan for the orderly succession of your business to your estate, heirs, or key employees.
For this and all your businesses legal needs, call me in Asheville, Hendersonville, Fletcher, Waynesville, and all of Western North Carolina at (312) 671-6453, email at email@example.com, or for more information palermolaw.com.
[This is not an offer to perform financial planning services. I will consult with your financial planner to determine the best legal course of action for your circumstances. Your decisions related to future financial plans is yours and yours alone to make.]