Business Succession Planning
If you are fortunate enough to have children in the business who wish to remain in the business and to whom you wish to transfer the business, the lawyers at Williams, Welser, Kratcoski & Can, L.L.C. can help.
There are a variety of options available depending on your specific circumstances. We need to know:
- What it is that you want to do?
- Do you want to pass the business entirely to the children now and retire?
- Pass some control now and some as time goes by, but remain in the business?
- Pass all the control but retain a cash flow?
- Pass the business at death?
- How do you limit the risk if a child dies or leaves the business, or the business starts to fail?
Each plan has its own set of benefits, its own drawbacks and its own risks. The business lawyers at Williams, Welser, Kratcoski & Can, L.L.C. have faced all of these situations, and understand the legal and practical aspects of each. We will work with your accountant to make sure that with each option, the tax ramifications are fully explored. Our attorneys have helped clients over the years legally devise and implement plans to pass businesses to the next generation and we can help you.
Contact Us Today
Contact Williams, Welser, Kratcoski & Can, L.L.C. in Kent, Ohio, and arrange to meet our business lawyers. We are confident we can demonstrate further the value that we bring to the table with respect to passing your business to the next generation.
