Practice Groups

Personal, Family & Business Planning

Business Succession Planning

We have extensive experience in planning for the succession of closely-held businesses. We understand the challenges of business succession and bring an acute sensitivity to the simultaneous, and often competing, goals of the business owner. Whether the focus is on minimizing estate tax on the transfer to the next generation, while providing liquidity to pay the tax due or logistically transitioning management and financially benefitting some family members, without ceding control, we can create a strategy that fits the unique needs of our clients. The lawyers in our Tax, Trusts & Estates Practice Group represent owners of closely-held businesses in business successions, including estate tax and liquidity issues.

We also address valuation issues involved with business transfers and prepare comprehensive business plans that integrate tax, estate, and business planning.  Each comprehensive business plan addresses issues relating to voting control, liquidity, diversification, management succession, and transferability of interests.  Each such plan also incorporates buy-sell agreements and estate tax freeze techniques such as part-sale/part gift to defective grantor trusts, Grantor Retained Annuity Trusts (“GRATs”), and outright sales.


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