Business Succession Planning

Just as every family needs to have a comprehensive estate plan in place, so too should every business make plans for the  orderly succession of the business entity from one owner to the next.

Whether a business interest is being sold to new owners, reapportioned among current owners, or transferred to the next generation of family members, it is vitally important that all parties use a framework that facilitates a smooth, principled financially sound and amicable transition, including:

• Buy-sell agreements

• Business valuation methodology

• Purchase agreements

• Asset lien clearance

• Documents of sale.