Succession of a family business to a succeeding generation requires consideration of many issues.
Some topics that should be addressed are the maintenance and structure of the family business after incapacity or death and who will succeed to the family business. As well as how, when, and in what manner those succeeding family members will receive the interest in the business and what assets passive family members may receive in lieu of an interest in the business.
Business clients frequently consult with Robert Solliday regarding the succession of a closely held or family business.
Whether your business is to be transferred to succeeding generations, or to parties outside of the family, Solliday Law can help you in formulating tax saving strategies for the sale or transfer of your business, using buy-sell agreements and advanced planning techniques.