Navigate Business Succession With Experienced Legal Guidance
When a business changes hands, that transition is a critical time for the company. With a carefully crafted plan for business succession in place, the company can continue its regular operations under confident leadership. Without a plan, conflict can endanger the company that you have built.
At Anderson Leavitt, we understand how critical the decisions you make for your business can be, especially when planning for business succession. Our attorneys have worked with local and national businesses alike and are ready to use that experience to help you create a sound plan for your company. With the right succession plan in place, you can have confidence that your business is in good hands no matter what the future brings.
Laying The Groundwork For Seamless Business Transitions
Succession planning is more than just a transfer of leadership. It is about creating a strategy that safeguards the future of your business and ensures continuity of the company’s operations, culture and financial stability. As a result, creating a succession plan may involve a variety of steps, including:
- Identifying new leadership candidates
- Outlining the process of transitioning responsibilities to that person or those people
- Creating a training program to provide new leadership with key knowledge
- Financial planning, including business valuation and planning for tax implications
- Crafting documents for the transition of ownership, including transfer of business interests to a trust or buy-sell agreements that prepare a business for sale
- Outlining framework for business governance under new leadership
- Detailing a long-term business plan to promote continuity of operations
At Anderson Leavitt, we understand that every business is unique, and so are the solutions required to protect its legacy. Our experienced attorneys can assist you at every stage of the succession planning process. We will work with you to understand your business’s needs and goals for the future, and we will use that knowledge as a foundation for a comprehensive and personalized plan.
Take The First Step Toward Your Business’s Future
You do not have to create a plan for your business’s future alone. Legal insights and personalized guidance from a skilled business law attorney are just a phone call away. Call our office today at 484-535-7080 or contact our firm online to schedule a consultation with our experienced business law firm.