Plan The Future Of Your Business
Effective transitions require advanced planning. If you have built a successful small business, you need to consider business succession planning as a part of your estate plan. At the law firm of Schlueter Ecklund & Davitt, in Rockland, Illinois, our skilled attorneys advise the owners of privately held companies as they prepare for retirement.
Contact us today to schedule your confidential consultation to discuss business succession planning.
Creating Business Succession Plans To Meet Your Individual Needs
Business succession planning is a highly personalized affair, requiring the development of plans that are narrowly tailored to your individual circumstances. Creating an effective plan for business succession requires that you consider your family circumstances and your business circumstances.
You may have one child who is heavily involved in your business and two more children who want nothing to do with your company. You may have three children who will sell off the business at the first opportunity and take the proceeds from the sale as part of their inheritance. You may need to ensure that a business partner can continue to operate your business without interruption from your family members who are unfamiliar with business operations.
Experienced Estate Planning And Business Law Attorneys
Because of our experience as both estate planning lawyers and business law attorneys, we understand the concerns you will encounter when preparing a business succession plan from both a legal standpoint and a business standpoint. We can help you effectively negotiate all of these issues and circumstances for your privately held company. We will work to minimize your estate taxes and reduce the likelihood of estate litigation after your death
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