Business Succession Planning in California
If you have spent years building a successful business, you likely want to make sure that it is in good hands should the time come when you can no longer run it. Whether because of retirement, illness, injury or death, having a plan for your company’s future is an important step to take while you are still in control of the process.
One of the estate planning services our lawyers at Loftin | Bedell, P.C., can offer is helping you think about various business succession planning strategies that make sense for you and your business.
Creating a Plan That Covers Every Detail of Your Business
Much like a will, a strong business succession plan can send a clear message to your beneficiaries, partners and employees of what your ongoing vision is for the company. When you work with our lawyers on a plan, they can help you think of answers to important questions like:
- Who do you want to own your business? A child? A relative? A business partner?
- Do you want certain employees to be retained?
- Will the company need to be restructured, and what are the tax implications?
- Do you want someone to be in charge of closing the business if you cannot run it?
- Will there be partners or shareholders who need to be bought out?
Our attorneys understand how hard you worked throughout your career to build a company you can be proud of. That is why they are committed to providing proactive legal advice to help you plan now, which will limit the possibility of future disputes between other parties. We can help you build a plan unique to your business that you can have confidence in.
Talk to Our Estate Planning Lawyers Today
The sooner you get started on planning for the future, the better. To discuss your goals for yourself and your business, schedule a consultation at our Carlsbad office today. Call Loftin | Bedell, P.C., at 866-933-2340 or 760-814-9649.