Business Succession Planning

Eventually, every business owner will need to hand over control of the company to the next generation of leadership.  Whether you’re retiring or selling to new owners, a comprehensive business succession plan is key.

Creating a business succession plan can be complex. MendenFreiman offers decades of successful succession strategies. We focus on protecting heirs and successors, maintaining the core competency of the company, minimizing tax liability, and ensuring your legacy lives on. Our trusted attorneys will guide you through the process, and position your business for lasting success after you move on.

If you own a family-owned or closely held business, succession planning is particularly crucial. These companies are often one of the most important assets and investments—and the key to your family’s continued economic security. We help owners create an estate plan for your business interests, through provisions for beneficiaries, appropriate ownership and titling of your ownership shares and estate liquidity for taxes and other business expenses.

MendenFreiman routinely handles business succession issues, including:

• Asset protection
• Buy/sell agreements
• Capital restructuring
• Creation of family limited partnerships (FLPs)
• Exit strategies
• Multigeneration and multifamily transfers
• Non-qualified benefit plans
• Business interest or asset sale transactions
• Shareholder agreement issues and covenants
• Transfer of ownership
• Pre-transaction tax planning and structuring