Putting the Success in Succession Planning.
Your trusted legal advisors for crafting a business succession plan that honors your legacy, safeguards your business's future, and has a positive impact.
Desire to leave a legacy?
We help you achieve what matters most.
You’ve dedicated years to transforming your vision into a thriving business, becoming a cornerstone of your community, and expanding beyond your initial dreams. Deciding how to leave that legacy in the right hands can feel daunting. We understand just how important it is to secure your business’s future after you step down, and we are here to give you the peace of mind that all of the i’s are dotted and the t’s are crossed.
Our team will help you guide your business to the next generation, ensuring your goals are met every step of the way. We share your dream of a business that flourishes long after you step down. We are your trusted legal counsel to help your business thrive in the next leg of its journey.
Frequently Asked Questions
Family, friends, employees, and third-party buyers are just a few valid options. Selling to family members or trusted employees helps maintain the company’s established culture and values. Alternatively, selling to an external party can introduce new perspectives and potentially better financial terms. We’re here to help guide you through your decision making process.
Timing your sale can depend on personal milestones or market conditions. For instance, you might sell when you’re ready to retire, or during a peak in market demand to maximize value. Selling before upcoming tax changes can also preserve more capital gains, when business owners anticipate changes in tax legislation.
Starting your succession planning early can help avoid stressful last-minute decisions and ensure a smooth transition. Gradually transitioning responsibilities to your chosen successor can help maintain operational continuity and secure the future of the business.
Financing options include SBA loans, personal financing, seller financing, retirement plan funding, and many more.. Combining one or more of these methods can also be effective, like when a buyer uses personal savings for part of the sale and the Seller agrees to be paid the rest through a structured payment plan.
Your decision will depend on many factors including debts and liabilities, the impact on existing vendor and customer agreements, industry licensing or qualifications, and the desires regarding the future of the company. An asset sale can be suitable for avoiding the transfer of liabilities. Selling ownership interests might be better for continuity in relationships with vendors and customers.
Services
Guidance for Your Future
Legacy Preservation
We are here to help preserve the heart of your business and ensure that its values, culture, and vision continue into the future, honoring the groundwork you've laid long after you exit the company.
Financing the Transition
We can help you explore diverse financing options, from traditional loans to seller carrybacks, and bring in trusted professionals to help formulate flexible solutions that cater to the financial dynamics of both buyer and seller.
Leadership Transition
We provide strategies for gradually reducing your role in daily operations, which might include negotiating a consultancy period post-sale, where you can continue to offer your expertise while the new leadership team settles in.
Family Succession Dynamics
We facilitate discussions and legal frameworks that address individual skills and interests within the family, ensuring that each member's role supports both their personal goals and the business's needs.
Strategic Sale Decisions
We provide sound legal guidance to instill confidence in your choice of successor, be it family, employees, or external buyers. We can help you align personal aspirations with the strategic goals of your business, and build a plan that places your business in the best hands for years to come.
Early Transition Planning
We believe you can never begin planning too early for your succession. We will guide you throughout the planning process to avoid the chaos of last-minute arrangements, ensuring a smooth transition that respects both the business's legacy and its future.
Navigating Ownership Transfers
We assist in planning out ownership transfers to ensure a smooth transition of power that considers liabilities, licensing, and long-term agreements. In our hands, your ownership transfer is poised for success - a solid foundation for your business’s next chapter.
Community and Ethical Considerations
We help ensure your business continues to operate in a way that supports and enhances its community. We strive to provide wise legal counsel in developing strategies that align with ethical standards and contribute to local welfare.
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Serving Values-Driven Business Owners
Our team of experience business lawyers is passionate about helping business owners and their people thrive. We’re ready to serve as your trusted legal counsel for all your business law needs. Contact us today.
