Miami, FL Business Succession Planning Attorneys
When the owner of a business dies or elects to retire, many issues arise with regard to the future of the company. The services of an experienced Florida business succession planning attorney are critical to ensuring that the transition of a business from one owner to the next transpires as smoothly as possible, and that the interests of you, your business partners, and family are protected.
The Miami business succession planning attorneys at David F. Anderson, P.A., have proven success in representing the best interests of business owners transitioning to another phase of their lives. Without a sound succession plan in place, a business is in danger of devolving into disputes and eroded client and employee morale once the owner retires and their shares are either passed along to their family, business partners or some combination of both.
But with the retention of an experienced, tenacious estate planning attorney, goals are set for the company’s management and ownership needs in advance of an owner or major shareholder’s retirement or untimely death. A plan for the recruitment of appropriate successors in management and ownership are put into place, and the groundwork has been laid for a smooth transition from one owner to the next.
Retention Planning and Buy-Sell Retention Planning
While a business succession plan can often be tailor made from business to business, most models are categorized as either retention planning or buy-sell retention.
- With retention planning, the business or share are kept in the retiree’s family. Spouses, children and other family members control the assets.
- In a buy-sell retention planning scenario, first-refusal rights in stakes in the company are offered to shareholders and key employees, at a price determined in succession negotiations.
In either case, arrangements are made for the best interests of the company in advance of the owner’s exit, whether it’s an expected retirement or a sudden death. The Miami estate planning law office of David F. Anderson, P.A. are prepared to guide the reorganization of a company towards the most favorable result possible. We have experience to help set goals, assist in the determination of new management and stock prices, and to help facilitate the transition of the executive’s interests into trusts that can be paid out to family members.
If you’re an executive, owner or major shareholder of a company and require the services of an experienced Florida business succession lawyer to help you prepare for the inevitable transition that comes from retirement or unexpected events, contact the law offices of David F. Anderson, P.A. today!
David F. Anderson attorney at law located in Miami, Florida specializes in long term care, Condominium law, Medicaid planning, Corporate structures, Residential real estate, Asset protection, Commercial real estate, Family law, Title insurance, Bankruptcy, Mortgage law, Association Law throughout Dade County, FL and the surrounding area