Business Succession Plans To Protect Your Future
As a business owner, you have put countless hours, money and focus into building and maintaining your business. However, many business owners do not think about the future of their company if they pass away or become incapacitated. A business succession plan is critical for the future of your company. Having a sound plan in place will eliminate uncertainty and minimize serious consequences should the worst happen.
At MDSLaw Ohio in Marietta, we assist business owners throughout the Mid-Ohio Valley in developing succession plans that aid in the smooth transition of their business. Our experience with estate planning and business law allows us to provide valuable legal guidance and create a succession plan that will protect your business, family and employees.
Personalized Succession Plans That Make A Difference
Business succession planning involves creating a detailed plan outlining what will happen to your business after you pass away, retire or become incapacitated. Like an estate plan, it can be customized and frequently updated to align with your wishes and any changes in your life or in the business.
Whether you wish to keep your business in the family or liquidate it, we can help create a plan that ensures your wishes are followed. We take the time to get to know you, your business and your goals to help design a succession plan that is right for you. We will help you consider naming your successor, having a financial power of attorney and the structure of your business. We can also discuss placing your business assets in a living trust that will allow you to reduce estate taxes upon your death and pass on ownership during your lifetime.
Matthew D. Scott, our founding attorney, was a licensed insurance and finance professional before founding his practice. This experience, in addition to his vast legal knowledge, gives our clients valuable insight into long-term financial planning for business owners.
Let’s Work Together To Plan For The Future
It is never too early or too late to plan for what comes next. We understand how important your business is to you and strive to provide effective legal guidance that considers your goals and concerns. Contact us today to schedule a free consultation at 740-923-4235 or by completing our online contact form.