Business Succession Planning

What happens to the business when the boss can no longer manage day-to-day affairs? Do the employees have any right to step into the boss’s shoes? We all like to think that we will eventually pick a day to retire, some years away, and give ourselves plenty of time to consider all the angles and plan the retirement party. But what happens if this time comes before we’re ready?

Few are aware that your interest in an LLC is a probate asset–and if you don’t plan for succession, the executor of your estate will have to take over and run the business. Planning for this day means saving our heirs from a big tax bill, or worst-case, total liquidation of the company. Whether it’s passing the business down to a family member, or simply protecting your business partner from unwanted incursion from an unhappy and unwilling manager, Carson Law Firm can help you achieve your goals through sound drafting and robust contracts.