Business Succession Planning
Business Succession Planning Lawyers
Are you looking for the best way to pass on your business? Whether you are looking to pass down your commercial assets to members of your family or a third party, you have a number of options that affect the future ownership and success of your company. At the Houston law offices of De Lange Hudspeth, we can help you develop a succession plan that works for you, your family, and your business.
Purpose of Business Succession Planning
When you have spent a lifetime building your business, you want to know that it will be taken care of properly when you are no longer able to do so. Our lawyers can help you facilitate the transition of your business immediately or help you develop a plan that will go into effect at a later time. Similar to estate planning, you have a variety of options that all have their pros and cons. We can help you understand what options fit your needs and how each one will affect the transition of your business:
- Marital Trusts
- Family Limited Partnership
- Incorporation of the Business
The main concern for people interest in family business succession planning is the impact of taxes on both their business and their family. We can help you understand how different plans will affect your tax situation differently. Together, we will discuss your present situation and your long term goals, to develop a business succession plan that truly fits your needs.
If you are interested in how to pass your business on to your family members, we can help you make a well-informed decision. Contact us today to schedule an appointment to discuss any questions you may have about the transition or succession of your business.