Based in Idaho, serving clients nationally
Business Successions Attorney
Based in Idaho, serving clients nationally
Business Successions Attorney
Small business owners and entrepreneurs are the backbone of our economy and pillars of our communities.
It’s no secret that business owners put blood, sweat, and tears into their businesses and will do just about anything to protect them.
But the unsettling truth is that 9 out of 10 businesses that do not have succession plans in place will fail if something were to happen to the business owner.
And that’s why you’re here today.
Whether you’ve been running your business for 30 years or for 30 days, you know it’s time to get a plan in place to pass on your legacy.
But you don’t have to do it alone.
With more than four decades of experience, the attorneys at the Generations Law Group are here to walk you through the process to make sure you have a proactive, custom plan to preserve your legacy.
We’ve helped hundreds of businesses navigate this process and we know the pitfalls, the dangers, and how to avoid them.
“Mr. Walker was instrumental in helping our family organize trust documents and all things needed with our large family business. We truly appreciate everything he has helped us with over the last 10 years!”
- Jeanette
What is a business succession strategy?
A business succession strategy is a plan that allows your business to keep running in the event of your retirement, disability, or death.
Leaving your business will have an effect not only on your family, but also on your employees and your assets. But having a well-designed plan at the ready allows you to transition your business smoothly to the next generation, whether it be to family members, trusted employees, or a buyer.
Your business should have two succession plans:
Business succession topics we’ll work through together
With more than four decades of experience, our Generation Law Group attorneys have helped clients through issues of business formation, transactions, succession, litigation, and taxation.
While working with you on your business succession strategy, we’ll cover a variety of important questions for your business.
These discussions can include any or all of the following:
- Choosing a successor or successors
- Setting a timetable
- Maximizing tax benefits
- Valuing the business
- Preparing your team for the transition (training, documentation, etc.)
- Planning your future
Other transition matters that may be applicable include:
- Selling business interests
- Buy-sell agreements
- Family-limited partnerships
- Grantor retained annuity trusts or unitrusts (transferring your assets while still maintaining an income for a set amount of time)
Contact Generations Law Group today
As your business succession attorneys, our goal is to help you create a comprehensive process to minimize disruption to your business and allow you to move on with your life, proud of your hard work. Get in touch with us today to get started.
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