Succession Planning Lawyers
Succession Planning Lawyer for Closely Held and Family Businesses
Succession planning is a critical aspect of ensuring your company’s successful transition, whether your goal is to retain it within the family, or create and maximize the value of an exit strategy that may include a merger or disposition of the business. At Wade Law Offices, our attorneys are experienced and skilled in succession planning and the generational transition of businesses.
Planning for changes in management or the direction of your company is often lost in the daily frenzy of operating a business. But a succession plan, developed and administered by an experienced succession planning lawyer is a fundamental building block of a well-run company. It is the foundation that enables you, your team, and your family to focus on running and growing the business with the certainty that the future course of the business is in place. This type of planning is complex. Ignoring the need, or doing it yourself without the counsel of an experienced succession planning attorney may place your assets and business at risk.
Call today at (800) 835-2634 to speak with an attorney and schedule an appointment to discuss your succession planning needs.
Use an Experienced Attorney to Ensure Transition Plans are in Place
Naming a successor may seem like a simple task, but in reality it can be complex and fraught with pitfalls—operational, financial, and emotional. Consider how a a qualified attorney devising a well-conceived succession plan can spare you the infighting and unpredictability that often occurs with management changes:
Disputes related to the ownership and control of a business can arise among even the closest of families. Your attorney understands that planning ahead can avoid conflict, preserve the business and promote harmony within the family. For example, a limited partnership may be suitable for some family-owned businesses.
Your company’s goals can still be achieved in the event of death, disability, or retirement. A succession plan developed by an experienced lawyer will provide continuity and prevent problems that can come with a change in leadership. Often, an owner who is no longer involved on a daily basis can retain control over the direction of the business.
All tax obligations, including property, federal and state taxes, generation-skipping transfer tax, individual and fiduciary income tax, and estate tax can be minimized.
Your lawyer can design exit strategies that avoid catastrophic outcomes that result from lack of planning. We can integrate a succession plan into retirement and estate planning, protecting you and your business regardless of whether the company is to be sold or kept in the family.
Experienced Succession Planning Lawyer
From multiple offices in Northern and Southern California, Wade Law Offices proudly serves the Northern California communities of Sacramento, West Sacramento, North Sacramento, South Sacramento, Carmichael, Citrus Heights, Rancho Cordova, Folsom, El Dorado Hills, Granite Bay, Orangevale, Fair Oaks, Rocklin, Roseville, Lincoln, Auburn, Colfax and Meadow Vista, as well as the Southern California communities of Newport Beach, Irvine, Costa Mesa, Laguna Beach, Mission Viejo, Santa Ana, Huntington Beach, Westminster and Long Beach.