Planning For The Succession Of Your Business

You may have spent the majority of your life building or expanding your business. After you pass away, what will happen to your business's legacy? LifePath Law works with a wide variety of California entrepreneurs and business owners, including family-owned businesses, to design and implement successful business succession strategies. Some of the matters relating to businesses and estates which we will address are:

  • Liquidity and retirement income
  • Tax consequences of a sale
  • Business continuity for employees, customers and suppliers
  • Potential successors (Family? Employees? Competitors?)
  • Fair treatment of family members
  • Timing

Business succession planning is an intricate area of estate law, and requires counsel from an attorney familiar in this area. With so much on the line, we offer more than just one-time representation — we counsel you throughout your estate planning journey, ensuring the needs of your family and your business are accounted for no matter when your estate plan needs to be executed.

Ensuring A Plan Which Meets the Diverse Needs of Your Family

If you have multiple children or are part of a blended family, the issue of business continuity may be substantial. You may not want to split ownership between your children, because one or more of them may not want an active role in the business.

We explore the various options available to you, including selling all or part of your ownership to increase the liquidity of your estate and allow for a more fair distribution of your assets.

Your business may be at the center of your estate plan; don't trust its fate in the hands of just any estate planning lawyer. Call 916-245-1398 today for a complimentary phone consultation, or send us an email for more information on our services.