Owners of closely held businesses have unique problems and opportunities. Of particular
concern for most business owners is planning for the transfer of ownership and control of the
family business from one generation to the next.

We regularly assist clients with these challenges with the appropriate, long-range planning needed to transfer ownership and control of a family-owned business to subsequent generations. Our family-owned business clients are offered the in-depth expertise needed to integrate their complex business, tax, and estate planning strategies. We work closely with business owners to develop practical and comprehensive solutions for accomplishing their business objectives while also serving the long-term needs of their families.

Many of our estate planning clients have significant portions of their wealth invested in closely held businesses. When planning for business continuity, we will review your limited liability company, partnership, or shareholder agreements and coordinate those agreements with your estate plan. A review of corporate agreements may include recommendations to reorganize or create new business entities. A buy-sell agreement, family limited partnership, limited liability company or a trust vehicle may also be useful for you to consider.

In assisting business owners in the formulation of plans designed to keep the business in the
family we also seek to minimizing taxes. We consider the impact of income, gift, estate, and generation-skipping taxes and plan for cash needs. We have substantial experience in designing techniques to withdraw cash from businesses to meet the family’s needs during the principal owner’s life as well as at death.

Whatever the business owners’ particular goals may be, we work to ensure that the plan
implemented is practical, flexible, and consistent with the owners’ unique family situation and business needs.

Asset protection is another cornerstone of every estate plan. A properly formulated estate plan can be designed to manage your assets, guide future generations, and avoid the possible squandering of your legacy. With planning your provide enhanced protection from creditors, ex-spouses, imprudent investors, or spendthrift beneficiaries.