BUSINESS SUCCESSION PLANNING
Retirement planning takes on a new challenge when you’re the owner-operator of your own small business. The Law Offices of Steven E. Springer helps businesses throughout the Silicon Valley, Santa Clara County and Alameda County with every aspect of their operations. Our business lawyers combine California business law and estate planning to manage seamless transitions that meet the crucial objectives of business succession, including:
Retirement income — Providing a steady cash flow that the original owner can rely on is important.
Estate tax liability reduction — Waiting until the owner passes away exposes the heirs to inheritance taxes that may force them to liquidate the business.
Continuity of operation — Upon the owner’s death, if an ongoing enterprise shuts down to reorganize, the branding and value may be compromised.
Benefit to the owner’s family — Heirs who are capable of running the business can assume that responsibility, while the business retains value for the benefit of others.
MAINTAINING THE VALUE OF YOUR BUSINESS WITH A SEAMLESS PLAN FOR SUCCESSION
If you’re like most small business owners, your company has been a focal point of your energy, industry, and imagination for a long time. Even though you know you must step aside, it would greatly affect you if your business devalued and the quality of your goods or services declined. The Law Offices of Steven E. Springer can help you make the transition without any pause in operations. We can help you integrate personnel, including successors chosen from your heirs, who can maintain your brand value. A stable transition means uninterrupted performance and the likelihood that you’ll continue to receive income from the business throughout your retirement.
SMOOTHING POTENTIAL FAMILY CONFLICTS OVER INTERESTS IN THE BUSINESS
Even if you have a small business, it may be large enough to meet the threshold for the estate tax, which could cost your heirs 40 percent of the value after the exclusion. In many instances, this estate tax can force a family to sell the business. Our estate planning attorneys can help you avoid the estate tax by transferring the business in your lifetime. Advance planning allows you to select the person who is most qualified to run your business. Families often have heirs with competing interests whose rivalries can drive a business downward. By allocating specific roles, responsibilities and shares of ownership, you can settle disputes before they erupt and place the most responsible and talented candidates in positions of authority. That way, your business has a better chance of enduring and paying dividends to your remaining heirs for years to come.
BUSINESS SUCCESSION PLANNING ATTORNEYS IN SANTA CLARA COUNTY, CA
We recognize that detailed information and direct human contact with your lawyer go a long way to developing the confidence you need to see your situation through to a successful conclusion. That’s why we make every effort to engage with you personally, remain accessible, and deliver prompt results. At The Law Offices of Steven E. Springer, we can ensure a smooth transfer of your small business to the next generation of ownership. To schedule a free initial consultation with an attorney who is experienced in business law and estate planning, contact us today.