Business Succession Planning
Preparation Breeds Success
If you own your own business, it is important to plan for the future. There are many important decisions that you have to make daily that can affect the success of your business. However, unforeseen events can render you unable to make those decisions; ensuring that your business is in good hands when tragedy strikes can be the difference between continued growth and future bankruptcy. The sooner you develop your business plan, the more options will be available to you.
The Law Office of Paulla Hyatt-McIntire helps business owners throughout the greater Yuba-Sutter region create business succession plans that help ensure their companies remain profitable even after they are gone. There are many variables to consider, such as whether your children and spouse have the desire or ability to run the business in your absence. We work closely with business owners to help them identify the issues and come up with strategies to ensure the business’s future.
Business succession plans are used to ensure your business’s future success, as well as ensure that your family is protected in the event of your death or disability. Successful plans account for all aspects of a person’s business and personal life, including estate taxes and trustee responsibilities among other issues. A good plan may be as simple as careful selection of a successor trustee and instructions included in a revocable trust; it may involve establishing limited partnership or limited liability company.
The Law Office of Paulla Hyatt-McIntire focuses on developing strategies to handle the transfer of ownership from previous owners to the family members or co-owners. They also develop plans regarding the sale or dissolution of the company, including asset and wealth distribution among family members or shareholders. By accounting for these events now, it can reduce uncertainty and legal expenses for family members and shareholders at a later date.
When you need an experienced business succession attorney to help you protect your company’s future, call the Law Office of Paulla Hyatt-McIntire today at 530-674-9761 or contact us online to schedule a consultation. The Law Office of Paulla Hyatt-McIntire represents clients living throughout Yuba-Sutter-Colusa and Butte Counties who need assistance developing succession plans for their businesses.