Helping You Keep Your Success in the Family
Do you have a family-run business you want to pass along to family members or trusted employees? Whether you are planning to retire or considering how the business will change hands at your death, working with an experienced Braintree business succession planning attorney can help you to ensure your wishes are carried out.
At the Gemma Law Office, Norfolk family business planning attorney Anthony Gemma works with small business owners to determine the steps necessary to successfully transition their years of hard work into the hands of their successor. Contact our Braintree office by e-mail or call 781-767-7363 or toll free at 877-549-3746 to schedule a free initial consultation regarding small business planning and options for business succession.
Making the Right Choices for You and Your Business
In business succession planning there are a number of concerns to think about. You are passing over control of your company. It is important to do so in a way that best serves both your personal interests and the continued success of your business.
We understand this may be a difficult process for you and work with you to reach decisions, concerning:
- Evaluating the financial worth of your business
- The amount of control you want to retain during your lifetime, especially pertaining to income
- The need to change the structure of the business — LLCs, limited partnerships, private foundations
- Minimizing tax consequences to you and the new owner
In our experience, business succession planning is often more beneficial when combined with estate planning. An estate plan can help to offer you and your loved ones financial security during and after the transaction. You may wish to establish a variety of trusts to minimize estate tax consequences, leaving the highest asset level possible for yourself as you age and your heirs when you pass away.
Contact a Norfolk Family Business Planning Lawyer
Norfolk County family business planning lawyer Anthony Gemma recognizes the sweat and tears you put into building your small business. He can help you hand it down in a way that allows for continued success. Call or contact us online to schedule a free initial consultation at our Braintree, Massachusetts, law office.
