Business Succession

Business Succession

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Please contact us for more information regarding Business Succession and how The Schatzman Law Firm can help you.

Whether a large corporation or small business, the business should plan for the future. Many small business owners do not plan for how they will leave their business, whether that means planning for retirement, or planning for unforeseen circumstances. We understand this; you are busy running your company and ensuring that the company succeeds. But, business succession planning in small companies is just as important as business succession planning in large corporations. Our firm will help you establish a business succession plan and meet regularly to update your succession plan, as business succession plans change over time.

Planning the exit from your business should be an integral part of your estate and retirement planning. If you begin your plan now, you can make certain that your family and loved ones receive the best results now, and after your retirement, death, or disability. Proper business succession planning can provide you with retirement income, reduced income and estate taxes, or even allow you to benefit a charity.

For some business owners, transferring the business to future generations may be preferred. But, for many others, liquidation or sale is necessary to fund life after business. No matter your circumstances, it can be difficult to properly construct a business succession plan on your own, and the counsel of an experienced attorney should be utilized.