Business Succession Planning
Business Succession Planning is important because you have spent your blood, sweat, and tears, building a business that has brought you great satisfaction. Perhaps your children are in the perfect position to carry on the family business or maybe you have a loyal employee who is ready to take over the reins. What is the most tax efficient way to transfer the business to this person? How can you create an incentive for this person to work hard and yet still keep some level of control for yourself in case things do not work out? Are there any ways you can ensure that the business will continue to thrive even after you have left the helm?
The team at Alley Law will help you to navigate through these decisions and more so that your business will continue to be a success even after you are gone.
Alley Law’s business succession planning counsel we provide includes, but is not limited to:
- Valuation of your Business
- Buy-Sell Agreements
- Closely–Held Business Interests
- Family Limited Partnerships
- GRATs (Grantor Retained Annuity Trust)
- GRUTs (Grantor Retained Unitrust)
- Value Freezes
- Life Insurance Planning Options