Planning for the Business and the Owner
For the owner of a closely held business, the estate plan and the business plan cannot always be separated. Ownership agreements, company value, real estate, family relationships and succession all affect what happens when an owner retires, becomes incapacitated or dies.
Effective succession planning may require consideration of operating agreements, shareholder agreements, buy-sell arrangements, trusts, wills, business real estate, insurance, ownership transfers and the future roles of family members or management.
DRG brings together its Business & Corporate and Trusts, Estates & Probate practices to address those issues as part of a coordinated plan.
Who will own the company? Who will control it? Does the estate plan match the company's governing agreements? How will an ownership interest be valued? Where will the liquidity for a buyout come from? What happens to real estate connected with the business?