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Succession Planning for Business Entities

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The owner of a closely held business faces a wide range of personal, financial and tax issues when planning the transfer of a business. The DSV Estates and Trusts Practice Group advises business clients in formulating and implementing estate planning goals with respect to closely held businesses. This process often involves the transfer of ownership over time while implementing strategies to preserve the integrity of the operating enterprise. Other techniques include implementation of a buy/sell agreement and the purchase of life insurance.

A business can significantly improve the transition of ownership and management by implementing a succession plan that reduces conflict and promotes certainty. The attorneys of the DSV Estates and Trusts Practice Group strive to implement strategies that ensure the continuation of the business and maximize return for owners. We work closely with our clients’ accountants, financial planners and other advisors to create specifically tailored succession plans that minimize adverse tax consequences. Our estate professionals work with other DSV professionals to provide counseling on matters as diverse as corporate compliance, internal governance issues, dispute resolution, succession planning, labor and employment matters, and tax.

The DSV Estates and Trusts Practice Group frequently advise our clients on a variety of succession planning topics, including:

  • Transfer of ownership
  • Shareholder buy/sell agreements
  • Liquidity planning for estate purposes
  • Employment and compensation arrangements
  • Entities that hold buy/sell policies