LeeAnne@StrohmannLaw.com

 

770-731-0068

November 17, 2014:  Why I Do What I Do

 

January 28, 2015: Probate Terms in Plain English

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Business Succession Planning is the process created by the Owner of the business to smoothly transfer ownership to the next generation.

 

Goals of Succession Planning Include:

-Maintaining control

-Providing adequate income

-Minimizing tax liabilities

-Preserving the “going concern” status of the business  

-Providing sufficient liquidity

 

Options in Choosing a Successor:

-Sell or gift to family members

-Sell to key employees in the business

-Sell to a competitor

-Sell to an investor

 

Tools for Succession Planning include:

-Trusts

-Buy/Sell Agreements and Operating Agreements:

   -Stock redemption agreement

   -Cross purchase agreement

 

 

*Lack of proper planning can lead to a loss of the business*

Successful Business Succession

BUSINESS PLANNING

 

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