Strong leadership is necessary for the success and legacy of any business. But “life happens,” and changes in leadership are inevitable. Company owners, shareholders, family members, and other key personnel retire, experience a decline in health, and sometimes pass away unexpectedly. Without a business succession plan, these kinds of changes can mean the end of a company. Business success planning increases the chances for the survival of one’s business upon disability, retirement or death of current owners. Organizations that are prepared with a carefully thought-out succession plan in place can weather unforeseen events or retirement of the owners while maximizing the company’s value, minimizing tax exposure, and continuing to thrive.
At Pierro, Connor & Strauss, we offer a full range of legal services to business owners. We help our clients understand their business succession planning options and tailor a plan that serves their goals.