Business Succession Planning
Planning for Ownership And Control Of Your Business
You’ve worked hard to build your business, whether you have done so as the sole owner of your business or as a business partner with people inside or outside your family. It is worth your time to take a moment and work with a lawyer to plan for the continued success of your business, protecting your legacy in the event of your death.
We help California clients devise smart, effective business succession plans. Contact us to schedule an initial consultation about your business and your concerns. We have offices in Encino and the Santa Clarita Valley.
Looking into All Of Your Business Succession Options
We will take a comprehensive look at the status of your business and your estate plan in order to come up with a business succession plan. We will work with you to put your intentions and goals in writing and help you make specific decisions such as the following:
- Designate who will inherit the business
- Plan for compensation of family members who helped you build the business
- Choose beneficiaries for your life insurance policies
- Mandate how your heirs should use business and insurance proceeds
Gregory J. Pedrick is an attorney who regularly handles small-business matters, estate planning and family law issues. He and the rest of our legal team can help you design a business succession plan that takes into account all possible contingencies.
Working with Your Business Partners To Plan Ahead
If your business is operated as a partnership or otherwise jointly owned, you will want to make sure that your contracts with your business partners work with your estate plan. A comprehensive look at these issues will help you protect your interests and your family’s interests and avoid unnecessary arguments between relatives and business associates.
Gregory J. Pedrick is highly experienced at negotiating and drafting mandatory buyouts and other business succession agreements that account for the possible death of a business partner. Email us to schedule an appointment with attorney Pedrick, or call us at 818-528-4936, 661-591-4132 or 805-254-4173.