Business Succession Lawyer Folsom, CA
When you need a business succession lawyer in Folsom, CA, call Yee Law Group. We believe legal expertise can empower you and your company. By utilizing the laws, rules, and procedures as a catalyze for growth and protection, you can ensure your business is shielded from any potential disputes and other obstacles.
As a Folsom, CA business succession lawyer, our firm strives to embody our own ethos. We take time to understand your unique concerns and are ready to share with you the legal knowledge you’re looking for to protect your business. For a consultation with a Folsom, CA business succession lawyer, call our firm today.
The Importance of Business Succession Planning
Perhaps you have invested many years, copious amounts of time and energy, and money into building your business. What happens when you retire? Or what if you die without a plan in place. If you have not spend time into planning your business succession, you should do so. The earlier, the better.
It is common for business owners to stay focused on daily operations that they forget about an exit strategy. On the other hand they might put this off to the side and forget about it. Your exit from your company, be it through retirement, incapacitation, or death, can impact your business, your employees, family, tax obligations, assets, and estate. By determining a strategy to transfer the control of your business to another person, you can feel confident that everything will be better managed and able to effectively continue operating.
A business succession lawyer in Folsom, CA can review your needs and the type of business structure in place. Your plan may achieve any of the following objectives:
- Avoid probate
- Establish a legitimate value of the business
- Reduce or eliminate estate taxes
- Name a party who will run the business
- Name heirs who may benefit financially, but not be directly involved
- Structure the business in a way that protects your assets and interests
- Plan the transfer of your interests to heirs who will be involved
- Prevent the sale of an heir’s interest to named party’s or individuals
- Develop a plan to resolve any business disputes
- Provide funding for taxes and transfer costs
- Restructure responsibilities if any management, partners, CEO’s, or other party’s die
As a Folsom, CA business succession lawyer, we regularly counsel the owners of businesses in all facets of planning out the succession of their company. We can help you to:
- Prepare for a smooth transition of your business
- Minimize taxes
- Value the business
- Identify future owners and managers’
- Keep the potential of a family dispute to a minimum
We understand that business succession is very closely related to estate planning. Our business succession lawyers have experience in both areas of the law so you can feel peace of mind in knowing we are able to provide you with the utmost expertise, knowledge, and legal skill. For a consultation with a business succession lawyer in Folsom, CA, call Yee Law Group today.