Business Succession Buy/Sell And Planning Issues
Business owners seeking to reduce the time spent in their business, transfer operations to a trusted employee or to a family member, or to plan for their exit from the business (business sale or retirement), must consider a well-planned succession strategy. While many estate planning attorneys are not adept at identifying and planning for business succession, at Gianesin Law Firm, our substantial experience with business owners, operations, and transactions, makes us uniquely qualified to advise clients in this area. We consult and prepare Buy/Sell agreements among business owners to contemplate a voluntary or involuntary exit from the business and know how such actions will affect any estate planning. This is an area where the advice of BOTH a qualified business transactions and estate planning attorney are required. Gianesin Law Firm can fill both roles.
Can My Estate Planning Documents Protect My Family From Business Debts And Lawsuits During My Lifetime And After Death?
Typically, a revocable trust is not an asset protection trust. In order to set up a revocable trust, we use one of the trustor’s social security numbers, so it is not meant to be an asset protection vehicle. However, there are other types of trusts that can be created for that purpose, subject to the limitations that I talked about before: that is, the trust cannot be created to avoid any existing debtors or litigation, or to create a shield in between the beneficiary or creator of the trust and any potential liability, for business or otherwise. Read More
What Types Of Business And Employment Contracts Can Your Firm Assist Clients With?
As a business transactional lawyer, I handle all aspects of business. I can form entities on a business’ behalf, and make sure that businesses have the right entities in place. I can create buy-sell agreements among owners of a business if they have an outside partner or partners, which would allow them to dispose of their assets in the event that the person leaves or dies (because they may not want to be partners with that person’s spouse or children). Read More
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