What is Business Succession Planning?
What is business succession planning and why is it important for any business owner? They say you can’t take it with you: If you have built a successful business, you need a viable succession plan. In essence, you need a plan that will enable your business to withstand the absence of you.
Good business succession planning involves factors commonly associated with estate planning and transactional law. It often concerns complex family dynamics and intergenerational legacies, encompassing emotional components and practical realities. It calls for maturity and experience.
Serving Entrepreneurs And Family-Owned Businesses
At Janathan L. Allen, APC based in the San Diego, California, area, we serve entrepreneurs and closely held businesses that want to move into the future with confidence. Equipped with decades of relevant experience, we can help you find answers to critical questions like:
- What will happen in the event of my death or disability, or the death or disability of my partner(s) or family member(s)?
- Can I sustain my level of personal involvement in the business?
- Do I want to leave my successor with a thriving business or a huge financial problem?
- How can I be mindful (and strategic) about the best interests of my employees, who may be most concerned with the continuity of their paycheck?
- How and when do I transfer my assets to my children or grandchildren?
- How do I determine whether (and if so, when) to sell the business?
- Is a living trust or other estate planning tool useful in my situation?
- What exactly would a business succession planning lawyer do for me?
Business succession is complicated. We can help you understand your options.
Contact Us To Learn More
Seeking a business succession attorney in San Diego, Los Angeles, Orange County or elsewhere in Southern California? We invite you to Contact us or call 866-631-3470 to learn more or to schedule a free initial consultation.
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