Business Succession Planning
As a business owner, you are concerned about meeting your short and long-term business goals. But have you stopped to think about what will happen to your business once you retire? Or after your death?
While these topics are not on the immediate radar of most business owners, the reality is that without property business succession planning, you or your family could lose control of the business you have worked hard to build.
Patterson Law Firm takes into consideration the many issues that may affect your business succession planning: from taxation to business restructuring. We will help you determine the most efficient way to direct your business where you want it to go in retirement or upon death.
Disputes about the control and ownership of your business can arise if you fail to properly plan for the future of your business. We can help you choose the most financially-advisable way to pass your business on to a family member or business partner. If you plan on selling your business, we can help you maximize your gain and minimize the tax impact. We work with a forensic accountant to accurately value businesses and professional practices, an important first step in any business succession plan.