Do you want to someday successfully transfer the family business to the next generation? Don’t wait until the later stages of a founder’s life to create a plan. Do it earlier, when time is on everyone’s side. Many plans require a significant number of years to allow for effective tax planning and proper integration of family members.
A succession plan includes various business agreements, insurance arrangements, powers of attorney and wills.
There is much involved in achieving the right succession plan for your business and your family, and an experienced business lawyer will be a major help to you. Please do not hesitate to contact me or any other member of our business law group for more information.
John S. Grant
Associate – Business Law Group
Disclaimer: This article is provided as an information resource. This article should not be relied upon to make decisions and is not intended to replace advice from a qualified legal professional. In all cases, contact your legal professional for advice on any matter referenced in this document before making decisions. Any use of this document does not constitute a lawyer-client relationship. Please note that this information is current only to the date of posting. The law is constantly changing and always evolving.