You've built a successful business, and now it's time to start planning for the future of the company after you retire or move on to other endeavors. At Marlon Brammer, our Boca Raton, FL business succession lawyer, will help you map out the process of passing on control of your company.
What A Business Succession Lawyer Does
Responsible business practices include a succession plan. From deciding who will take over to protecting assets for retirement, our business succession lawyer will help you develop a plan to transfer ownership. By hiring our attorney, you may benefit from the following services:
- Identify succession goals and potential successors
- Evaluate the business's current assets, liabilities, and legal structure
- Write succession contracts and documents
- Determine tax considerations and how the succession plan may impact your overall estate plan
- Setup contingency plans and work ways to solve potential issues that may arise
Our Boca Raton business succession lawyer protects your most valuable asset, your business. Outlining who will move into an ownership role can help alleviate some of the pressure and stress founders struggle with when deciding to step away from their business.
How A Business Succession Lawyer Can Help You
If you want your business to succeed when you can no longer run it, a succession protocol is essential. These strategies are designed so the transfer of ownership is simple, allowing the business to continue to run smoothly during that transition. A business succession plan may be activated if you:
- Retire
- Pass away
- Become unable to perform your duties because of illness or catastrophic injury
You can elect to give ownership as an inheritance, sell, add a business partner, or enter other agreements. Our business succession lawyer will discuss the pros and cons of every option so you can feel confident about your company's future.
Several scenarios make retaining our business succession lawyer critical.
- When businesses are left to family members without a plan for leadership or procedure, arguments may occur.
- Clients may leave if they do not feel confident about your business's longevity.
- Succession plans give employees security and allow them to make informed decisions about keeping their jobs under new ownership
- Safeguard against a shareholder takeover
- Transferring ownership without a clear plan will be disorganized and put the business at risk of lost revenue and other liabilities
Most importantly, a business succession plan protects the company you worked so hard to create. When it is unclear who will be in charge, the business and your employees are vulnerable. Our business succession lawyer helps safeguard your legacy by drafting a plan that best supports the needs of the company, its staff, and its assets.
It is never too early to establish a business succession plan. If you own a company and want to ensure your future wishes are followed, meet with Marlon Brammer today. Our Boca Raton, FL, business succession lawyer will guide you through the process of developing a comprehensive succession plan that benefits the company, your staff, and your estate plan.
