Count on the Experienced Business Succession Planning Lawyers at Bratton Scott
The dream of many family business owners is that they will be able to leave their life’s work – a successful, profitable company – to their children or other relatives. Whether your run a small family-owned business or a large corporation, the time to think about succession is before the need arises. As the saying goes, act – don’t react.
Protect your business, yourself and your family’s future by speaking with a knowledgeable business succession planning attorney at Bratton Scott. Whether you are starting a business or nearing an exit, we will guide you through the succession planning process with an eye on protecting your investment and assets.
Key Business Succession Planning Issues to Consider in NJ, PA & FL
As a business owner, you want to ensure that, when an important member of the management team leaves the company, there is a smooth transition, financial obligations can be met, intellectual and human capital is maintained and protected, and the existing customer base is retained.
At the same time, the person leaving the company wants to be sure he or she gets a fair distribution. There may also be issues of control of the company going forward. Talk to a qualified business succession planning lawyer at Bratton Scott about safeguarding your interests when it comes to:
- The Buy/Sell Agreement
- Long-term buyout vs. upfront payment
- Minimizing tax liabilities including capital gains, business and personal income tax issues.
- Business control issues
- Distributions of assets and liabilities between the entities
- Timeline for the entire transaction
Contact Bratton Scott for Business Succession Advice
For guidance about business succession, contact Bratton Scott at our conveniently located offices in Haddonfield and Ewing, NJ, Philadelphia, PA, and Fort Lauderdale, FL. Call us at 856-857-6007 or fill out our convenient online form to request your initial consultation today.