Planning for the Future of Your Business
Adequate business succession planning is the most effective and most important way to prevent a business and its owners from having to deal with control disputes upon retirement or death. Most business succession planning is related to those businesses that are family owned or where stock is closely held. When done properly, succession planning allows for a smooth transfer of ownership and management to heirs or other successors.
At the law firm of Jacobowitz and Gubits, LLP, we are committed to helping business owners develop effective business succession plans. Founded in 1968, we have handled many business succession plans for our clients, including those involving multi-family and multi-generational transfers. Our attorneys know how to recognize issues before they turn into larger problems down the line.
New York Succession Planning Lawyers
Our firm has dealt with many of the issues typically involved in business succession planning, including:
- Stock restrictions
- Buy and sell agreements
- Family limited partnerships
- Shareholder agreements
- Shareholder covenants
- Capital restructuring
When looking to the future, it is important that the succession plans allow for the financial care of heirs and place the management of the company in good hands. While business succession planning can be complex, when done properly, it can minimize tax liabilities, provide security and leave a strong legacy for the business.
Contact Us to Learn More Information
For more information, contact us at the law firm of Jacobowitz and Gubits to talk with an attorney about business succession in New York. Call us to schedule an appointment for an initial consultation at 845-764-9656 (toll free at 866-303-9595).