Business Succession Planning

Business Succession Planning

As experienced Lake Jackson, TX business succession planning attorneys, the Cordoba Law Firm, PLLC can guide you in the steps needed to protect your rights and the future of your business.

Running a business requires you to anticipate future events and unexpected circumstances that could arise. For business owners, this includes succession strategies. At the Cordoba Law Firm, PLLC, we can help you put plans in place to ensure a graceful exit and the successful transition of your business in the event of retirement, health issues, or the death of owners and partners. Our Lake Jackson, TX business succession planning attorneys have extensive knowledge of the laws that apply in these situations and years of experience serving members of the business community.

The Importance of Business Succession Planning

Planning a successful business exit strategy should be a top priority from day one for business owners. Succession plans include everything from the basic structure of your business and operations under the Texas Business and Commerce Code to who will ultimately inherit your share in ownership. Without a well thought out plan in place, all of your hard work could be wasted while others reap the benefit of your profits.

At the Cordoba Law Firm, PLLC we work with you in developing strategies to avert future issues when it comes time for retirement or if unexpected injuries and illnesses keep you from performing your duties. As Lake Jackson, TX business succession planning attorneys, you can count on us to guide you in options for the successful transfer of ownership, which include:

  • Buy-Sell Agreements, which are contracts you put in place now that arrange for the sale of your business or reallocate your portion of ownership on a certain date, such as at retirement or death;
  • Limited Family Partnerships, which allow you to transfer your interest in the business to family members over time; and
  • Ensuring the plan works with the Last Will and Testament of the business owners.

By using the above tools and other business succession planning strategies, our legal team will work with your tax advisors to ensure ownership of your company falls in the right hands while avoiding taxes and potentially lengthy probate proceedings in the Brazoria County Courts for those who inherit from your estate.

Request A Consultation with Our Lake Jackson, Texas Business Succession Planning Attorneys

At the Cordoba Law Firm, PLLC. we are dedicated to ensuring the hard work invested into your business is protected, now and in the years to come. To discuss your options, contact our Lake Jackson business succession planning attorneys and request a consultation today.