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Business Succession Planning

Business succession planning can mean many different things to different business owners. Regardless of the intentions of the business owner or owners, business succession planning is a critical component of any small business’s planning strategy. Without a structured plan in place, many small businesses can be put in jeopardy in the event of the divorce, retirement or passing of one of the key owners or executives of the business.

At the Connecticut law office of Berchem Moses PC, we offer seasoned advice and guidance tailored to the needs and objectives of each client.

Connecticut Family Business Attorneys Providing Effective Guidance

Our business succession planning attorneys guide small and closely held businesses, including family-owned businesses, through the structuring and implementation of business succession plans. Our business succession planning services include:

  • Negotiating and facilitating structured buyouts
  • Establishing family limited partnerships
  • Identifying potential tax consequences of gifting the business
  • Addressing future management, taxation and insurance issues
  • Assisting with other aspects of business succession planning

While for some business owners, succession planning involves planning for the future succession and transfer of the business to children or other heirs, in other situations it involves planning exit strategies and succession of the business without future family involvement. Our attorneys are committed to working with clients to achieve strategies that are in alignment with their wishes, preserve owner equity in the business and minimize potential tax liability.

In conjunction with our business succession planning services, our business attorneys work collaboratively with our trust and estate attorneys to fully meet the needs of clients, including providing assistance in creating individualized estate plans for business owners and other clients.

For further information about business succession planning, or to consult with a lawyer regarding your business, contact our Connecticut family business lawyers at Berchem Moses PC.