Ensuring Your Business Legacy Continues
Our Business Succession Planning services help clients establish a plan that will ensure their businesses’ continuation and maximize returns for the founders. Business succession planning is an investment in the future of your business for owners, employees, and clients. The existence of a succession plan emphasizes your commitment to the business’ long term growth and will create confidence in customers, lenders, employees, and suppliers.
Developing a succession plan is a multi-step process. Equity must be reorganized, wills and trusts updated and existing insurance policies reviewed. Buy-Sell Agreements will then be drafted, compensation procedures are reviewed and an advisory board established to strategize, design, and implement employee incentive plans. This involves the counsel of an objective professional who contributes specialized skills and experience in this area.
Whether the triggering event is a disability, divorce, death, or simply the desire to retire, everyone with a business needs to determine what will happen to that business if you, the owner is gone. How will ownership be transferred? Do you want it to be?
At Bartley Law, we can help develop a thoughtful succession plan to ensure a smooth transition between the current and the future owners of a business, or to fulfill any other desires of the owner including merger, acquisition or sale.