Business Succession Planning
The concerns facing business owners are unique. We respond by creating plans that will adapt to the changes you may encounter. Whether your situation is straightforward or complex, our attorneys are able to implement creative and flexible strategies to fulfill your personal and business needs. We will work closely with you to discover your personal goals and objectives, identify potential pitfalls, and develop innovative solutions.
Specific services include:
- Buy-sell contracts (cross-purchase or entity repurchase)
- Exploration of employee ownerships including employee stock ownership plans (ESOPs)
- Executive compensation strategies (both equity-based and traditional deferred compensation)
- Merger/sales to third parties on a taxable, tax-deferred or tax-free basis through one-on-one negotiations, controlled auction and broader auction
- Gifting and other techniques with family members, including installment sales, grantor retained annuity trusts, redemptions, installment sales to grantor trusts, insurance trusts and other like arrangements
- Recapitalizations to create preferred or nonvoting stock
- Recapitalizations to extract value with a simultaneous investment by an investor
- Long-term employment arrangements
- Deferred compensation and salary continuation plans
- Ownership of business assets outside the business entity (e.g., intellectual property or real estate)
Our attorneys encourage a team approach and will work directly with your accountant, financial planner, life insurance agent, and other professional advisors to ensure the various components of your succession plan are properly integrated.