Succession Planning at Reena Gulati PLLC
What is business succession? It is the way to preserve your business for your next generation or to successfully pass on the business either through sale or gifting that would entitle you to a return on your investment in the business. Your vision and hard work at creating and building a business are valuable. The business should not disintegrate once there is a change of ownership. However, planning is the key element in preserving your investment for your children or seeing a return from it in your retirement.
- Depending upon the clients’ goals business succession involves drafting several key legal documents and having adequate insurance.
- It is a team effort by all your professionals. We help bring the team together for you and ensure that you have a viable legal plan in place.
- Often a family-owned business is susceptible to failure due to a lack of adequate planning and strategizing. This can be prevented. The unique nature of a family-owned business and a closely held business make it even more important that you consult with an attorney to understand the issues and tackle them head-on.
Although we are tough on planning, I continue to be sensitive to the goals of my clients. My firm can help you deal with the issues of succession planning. Give me a call, I am here to help.