Business Succession Planning
Control and ownership succession is often a difficult problem for individuals and families that own private companies to address. For example, many times some children are involved in the business and others are not. Other times there are no family members involved in the company, but a potential widow and children are dependent on continued operation of the company for their support. Our attorneys have extensive experience in providing alternatives to use in such situations to smooth transition of ownership and control, thereby insuring continuity of the company for the benefit of all concerned. Shareholder agreements, buy–sell agreements, voting trusts, ESOPs and irrevocable trusts are just some of the techniques our corporate and estate planning groups use to effect that smooth transition.