Business Succesion

At Schneider Bell, we understand that planning for the future is not just about the present—it's about safeguarding the long-standing reputation you've worked hard to build.

Our Business Succession Planning practice is dedicated to helping business owners navigate the complexities of transferring ownership and leadership to the next generation or preparing for other transitions. We have extensive knowledge and experience working with businesses of all sizes across a wide range of industries, and our proactive approach is what sets us apart from other firms. We believe that healthy businesses are set up to succeed from the start, which includes considering how they will continue in the long term. Our attorneys help you create an effective succession plan that protects your business’s enduring success and ensures continuity.

Focus Areas:

Business Formation

Business Succession

Commercial Contracting

Data Privacy and Cybersecurity

Health Law

Labor and Employment

Mergers and Acquisitions

Nonprofit Organizations

Workers’ Compensation

Guiding Your Business Legacy

Successful business succession requires careful consideration of legal, tax, financial and personal factors. Our legal team collaborates closely with you to develop a complete succession plan customized for your unique circumstances and objectives. For business owners ranging from the sole owner of a manufacturing company to a partner in a service business, and anywhere in between, we provide tactical guidance so that your transition brings you peace of mind while preserving your business's values and continuity.

Here are some succession planning considerations:

  • Legal Factors:
    • Structuring ownership transfers to comply with legal requirements.
    • Drafting buy-sell agreements, operating agreements and other legal documents.
    • Ensuring compliance with regulatory frameworks.
  • Financial Factors:
    • Minimizing tax implications through strategic planning.
    • Evaluating the financial health and valuation of the business.
    • Planning for funding sources for ownership transfers, including funding through the use of life insurance.
  • Personal Factors:
    • Identifying and addressing personal goals and objectives of stakeholders.
    • Managing family dynamics and expectations in succession planning.
    • Ensuring the continuity of the business's values and culture through the transition.

Expert Succession Planning Strategies

Our team offers skilled guidance and practical solutions across key areas of business succession planning, including:

  • Ownership Transfer: We specialize in structuring the transfer of ownership interests to family members, key employees or external parties. Whether through direct sales, gifts or other mechanisms, we make sure each transfer is legally compliant and practical while preserving your vision for the future of your business.
  • Management Succession: Planning for the orderly transition of management responsibilities is necessary for maintaining operational continuity. We work closely with you to identify and develop future leaders within your organization and to develop a plan to put a multi-step transition plan in place.
  • Tax Planning: Mitigating tax liabilities associated with ownership transfers preserves your business's financial health. Our team includes expert tax attorneys who methodically employ tax planning and structuring techniques to optimize tax efficiency, reduce costs and maximize value during transitions.
  • Buy-Sell Agreements: We draft comprehensive buy-sell agreements that outline clear procedures for the transfer of ownership interests in the event of retirement, disability or an owner’s death. These agreements provide certainty and protect the interests of all parties involved, minimizing potential disputes and promoting operational continuity.
  • Estate Planning Integration: A thriving succession plan is integrated with appropriate estate planning strategies to align personal and business objectives. Our esteemed Trusts and Estates attorneys collaborate with our succession planning professionals to coordinate strategies that preserve wealth, minimize tax exposure and facilitate a an efficient and effective transfer of the control and enjoyment of the business.

Why Choose Us?

At Schneider Bell, we go beyond legal expertise. We provide personalized attention and proactive advice to protect your business's future interests and ensure a smooth transition for future generations. Our commitment to excellence and our deep understanding of business dynamics are what makes us your trusted partner in securing the future of your business.

Contact us today to discuss your business succession planning needs and how we can help you preserve your legacy with confidence and clarity.

Contact Us Today