You’ve Worked Hard To Build Your Business, So Make Sure You Have A Succession Plan In Place
Entrepreneurs devote countless hours to planning and growing their businesses, but few give the proper attention necessary to an exit strategy. Having a well-designed business succession plan in place is important to your company’s long-term health as well as your own financial stability.
The attorneys at Lesser Lutrey Pasquesi & Howe, LLP in Lake Forest, Illinois, help owners of closely held businesses, including family-owned businesses, develop and implement comprehensive business succession plans. We help business owners implement protections against any number of disruptive events, including death, disability, divorce or disputes with business partners.
Business Survival Is Linked To Proper Planning
Less than one-third of family-owned companies succeed into the second generation and only 10 percent make it to a third generation, according to two separate studies. Whether you intend to sell a business or pass it on to a future generation, taking steps to assure strong leadership transition is imperative.
Our lawyers have extensive credentials and experience in business and employment law, which enables us to provide you with a personalized, fully integrated business succession plan. It is never too early to start the process. It’s also important to review a succession plan regularly to ensure that it still accomplishes your objectives.
Our business succession services include a number of key components, including:
- Creating family limited partnerships
- Addressing future leadership roles
- Coordinating financial and estate plans
- Minimizing potential tax liability
- Negotiating and facilitating buy-sell agreements
A Professional Approach With A Personal Touch
Our business succession planning attorneys invest a significant amount of time learning about our clients’ businesses and understanding their long-term goals. This helps us prioritize the issues that we address.
Our clients have told us they appreciate our emphasis on clear, concise communication, our accessibility and our commitment to creating a client-friendly environment. Don’t procrastinate. Not having a business succession plan in place is like not having property insurance. Call 847-295-8800 or use our online contact form to schedule a meeting. We will review your situation, answer your questions and recommend an effective course of action.