Protect What You Have Worked Hard To Create
As a business owner, you have likely invested a significant amount of your time, energy and talents into your business. While thinking of how the business will operate without you might be an unthinkable thought, planning for such a strategy is crucial to prepare for its successful continuation.
Our attorneys at McEvoy Law, have over 25 years of experience in assisting businesses, individuals and families with estate planning and business legal needs. At the intersection of such legal areas is business succession planning. We can assist in preparing your business for both the known and the unknown by crafting a thoughtful, creative and sensible solution.
Who Can Create A Business Succession Plan?
Business succession plans are often associated with CEOs or executives of larger companies. While such individuals certainly have a need for such plans, you do not need to oversee hundreds of employees to benefit from a succession plan. We assist small-business owners, owners of family businesses, and doctors, physicians, veterinarians and dentists who own their own practices to plan for a smooth transition upon their eventual departure.
The Benefits Of Having A Plan
Leaving your business on your own terms is what nearly every business owner wishes for, whether that includes retiring or working to some extent until you are no longer able to. However, circumstances can change. Because the future is unpredictable, having a business succession in place can ensure your wishes are both documented and carried out should you become incapacitated or unexpectedly pass away. Our services include:
- Organizing your options and decisions
- Assisting with employment and partnership agreements
- Advising on partnership sales
- Determining an appropriate time frame for your departure
- Executing the plan according to your wishes
Proactively creating and establishing a business succession plan can assure that there are no bumps in the road when you do finally transition out of your leadership role. Creating a plan can allow you to critically think about what your wishes are, have all key information organized, and set both your successor and your business up for an optimal path to success.
Safeguard Your Business
Prepare for the unknown by establishing your business succession plan. Consult with our attorneys in Frederick to begin the process and address any concerns you may have. Call us at 301-228-0810 or email us through our online form.