Succession Planning for Closely Held Businesses

Butzel Longs estate and succession planning attorneys are very familiar with closely-held business planning and the way that personal, family, and business issues interrelate. We advise on the most efficient and advantageous ways clients should conduct their businesses. Our attorneys have prepared buy/sell agreements advised on gifting of business interests assisted in selling the business to family members, employees, or third parties identified ways to raise capital and implemented employee stock ownership plans (ESOPs) and qualified/nonqualified compensation plans.

Our team identifies the business owners objectives and develops a comprehensive business plan during the owners lifetime and following the owners death. We ensure that each specific goal is addressed in a manner that satisfies the owner.

We can also advise a client on effectively providing liquidity to family members following the clients death, and we can determine whether a business should be sold. We counsel on intra-family conflicts and plan appropriately when family members do not wish to participate in the family business. Our team works closely with our taxation attorneys to reduce estate, gift, and income tax concerns.

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