The most critical challenge for many small and closely held businesses owners can be planning for the succession of the business. While succession planning can create a challenge for business owners, it also provides business owners with the opportunity to plan for continued success and growth of their business and their own financial well-being.
In order to successfully plan for the future, a business succession plan needs to address the operational, ownership, tax, and estate planning issues involved when transitioning a small or closely held business.
- Who will own the business?
- Who will manage the business?
- How can the business avoid a future deadlock?
- What happens to the business in the event of disability, divorce, retirement, or death?
- What are the business tax implications of your business succession plan?
- What are the estate tax implications of your business succession plan?
These are important questions that owners of small or closely held businesses need to answer when creating a business succession plan. At NW Legacy Law, our distinct combination of business, tax, and estate planning experience will support and guide you through these tough decisions. The key to a successful business succession plan is starting the process early.
Efficient and effective technology management.
At NW Legacy Law we understand that a client’s business time is very valuable. As such, we actively utilize technology to support us in providing effective and efficient follow-through. We support electronic transactions managed via your smartphone or tablet and provide clients with electronic minute books and corporate records.
Our client service approach.
For every client, our service philosophy is to be directly accessible, to add value to every enterprise, and to provide efficient legal advice that advances strategic objectives while protecting the bottom line. We take the time to learn each client’s business so we can serve as an integral part of the team.
Complimentary telephone meet & greet.
To learn more about our comprehensive services, or to discuss how our business planning lawyers can help you with your business goals, please contact us at 360-975-7770 to speak with one of our team members.