Business Succession

Handing Off Your Life’s Success

An important, and often complex, aspect of estate planning involves how you want your business handed off when you are no longer able to be its fearless leader. Many entrepreneurs like to “keep it in the family,” so to speak, while others may opt to sell.

It is never too early to begin planning your business’s succession. There are an abundance of considerations during the process, including finding and training your successor, establishing an accurate value of your company, and possibly placing the business in a trust. Throughout the planning process, you need to be mindful of certain tax implications, as well.

However you want to pass the torch onto the next generation, you will need the help of an experienced estate planning attorney who understands the nuances of business succession planning and how it intersects with business law. Get started on your personalized estate plan today by reaching out to Monahan Law Firm.