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Business Succession Planning

Business succession planning is one of the most important, but often overlooked, components of estate planning. Business succession planning also puts you in control, so that your goals for your closely held company are reached.

Planning for who will take over the business can help avoid arguments and bad feelings among your heirs and siblings in the future, as well as preserve assets.

The firm prides itself on providing a wide range of business succession support services, from transactional law to corporate counsel and business litigation.

If you have questions regarding our practice areas, including business law, commercial real estate law, estate planning, probate and estate administration, guardianships, franchise law, nonprofit law, and commercial litigation commercial collections, and need to discuss these matters with a lawyer, contact Donnelly LLC. The firm offers free consultations, is open 8 a.m. to 6 p.m., accepts flexible payment arrangements and has multiple locations in South Jersey and Washington, D.C. Call 866-907-6368 today for a free confidential appointment.

Complete And Comprehensive Business Succession Planning

Attorney Brian Donnelly personally handles succession planning for small businesses and family and closely held businesses. He brings great acumen to the process, applying his Master of Laws in taxation and more fully serving the needs of small-business clients.

He provides seasoned counsel throughout the business succession planning process, including:

  • Negotiating and drafting buy-sell agreements with compensation procedures
  • Preserving the assets of your small business
  • Granting of shares
  • Selecting officers and reforming the company
  • Organizing the equity of your small business
  • Contract drafting, including contracts and contract review

Mr. Donnelly understands that business succession planning must be thorough in order to be successful. It is a multistep process that may involve negotiations with accounting firms, partners, principals and financial advisers.

Throughout the process, it is important to continually review and update the plan, as your business increases or decreases in value and your tax liability or insurance value changes. Donnelly LLC also recommends reviewing and updating wills and trusts at the same time, as well as reviewing insurance policies.