For family-owned and closely held companies, transitioning from one owner to another can involve many complications. A failure to adequately address these issues can jeopardize the success of a transition, and it can even lead to a company’s failure. With a sound business succession plan in place, you can give your company the best chance for success in the years to come. An attorney will be instrumental in creating a business succession plan.
For years, companies throughout Michigan have placed their trust in Driggers, Schultz & Herbst. Whether you intend for your family to continue operations or plan to sell your company to a third party, our Michigan business succession lawyers can achieve your objectives.
Ensuring The Smooth Transfer Of A Family-Owned Business Or Closely Held Company
Because our law firm concentrates much of its efforts on both business and estate planning issues, we are well-situated to consider and implement appropriate business succession strategies. Our attorneys will work closely with you to identify your immediate and long-term needs relating to the valuation of your company, transitioning ownership, taxation and other pressing issues.
In family-owned companies, it is common for one child to continue operating the company, while other children may not be involved in the company’s operations. Our law firm can create a plan that facilitates this transition while treating other family members equitably. Whatever your needs, our lawyers are skilled at structuring the smooth transition of your company.