Succession Planning for Family and Closely Held Businesses

In some cases, there is no greater concern to a business owner than determining how to preserve value in a business that he or she spent years or, more often, decades building.  Sometimes this means ensuring that a spouse or significant other will have access to liquid funds from the business.  Other times it means establishing a plan for succession to the next generation of owners (either within or outside the family).  Assisting these closely held business owners with these types of issues are central to our practice. In fact, given our intimate familiarity with our clients' businesses and issues that extend well beyond, we often spot and address these issues before our clients think to worry about them.