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Business Succession Plans

HomePractice AreasBusiness LawBusiness Succession Plans

Plan for the future of your business.

You’ve worked hard to get your business profitable and stable. If something happened and you became unable to run your business tomorrow, you don’t want all this hard work to go to waste – you want to have a say in what happens to your business.

Business Succession Plans

Plan for the future of your business with our help at C.W. Lachey Law. We create business succession plans for our clients, and we can help you figure out and plan for what happens to your business in the event of a disabling accident or unexpected death.

It’s easy to put off something like this because you’ll have plenty of time later to sell your business or stop taking clients when you retire, but life isn’t that cut and dry. If something were to happen that rendered you unable to fulfill contracts and you didn’t have a business succession plan in place, the results could be financially devastating for your family. As the saying goes, an ounce of prevention is worth a pound of cure.

Most business succession plans include:

  • A living trust that allows you to transfer assets immediately to your beneficiaries after your death without undergoing the probate process
  • Life insurance that provides liquidity for your family while they handle your affairs
  • Buy-sell agreements if your business needs to be transferred immediately
  • A succession plan if you wish to hand over control of your business to your family

Each of the business succession plans we work on is different because every business we help is different. We take into account your market, your customers, your business’ unique stage, and what you want to happen to your business after you die.

We want you to rest easy knowing your family, your team, and your customers will be taken care of if something happens to you. For more information about business succession plans and how our law firm can help you prepare your business for the future, contact us today.

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