Business Succession Planning by Jeffrey A. Fleischhauer, Shenandoah Legal Group

March 5, 2013 - PRLog -- To ensure survival and growth of a business, succession planning is needed to protect family or shareholder/stakeholder and employee harmony. A good plan should minimize taxes and provide a pathway to retirement for principals of the business.

Resolving the competing interests of all of the parties presents significant legal and financial and business issues. Typically, a discussion is needed to ascertain the competing goals and to develop the best strategies to achieve the desired results.

There are many different “tools in the toolbox” to achieve the desired results.

Shenandoah Legal Group’s attorneys can use these tools help your business prepare for the future. Examples include preparing buy-sell agreements which are self-funded or which utilize an insurance component. Planned gifts of stock or membership shares can be made to transfer minority interests to take advantage of the Federal estate and gift tax exemptions. Shenandoah Legal Group’s attorneys can prepare business trusts and more sophisticated trust planning, if needed.

A complete plan should include planning for incapacity, death, dissolution, and retirement, and cover all issues which may arise such as ownership, management, succession, and disaster planning. Shenandoah Legal Group’s attorneys can assist in developing a workable resolution of these issues.