Integrated Succession Planning For Ohio Business Owners
Any business owner needs to consider the future of the business and its sustainability in the face of retirement, disability or death of key employees, including the owners.
At Ziegler Metzger, we handle a wide range of corporate and small business law matters, including business succession planning. Since our founding in 1952, our business attorneys have advised several generations of Ohio business owners about, tax planning, management succession, exit strategies and similar issues. We represent clients throughout Ohio from our offices in Cleveland and Painesville.
Coordinated Planning For Smooth Transfer Of Management Control
We offer practical and flexible advice based on the characteristics of the business, the goals of the ownership, and the special personal and family circumstances that will impact the decisions of our clients. Our corporate lawyers work closely with our clients, their financial and tax professionals, and our own estate planning colleagues to create seamless, fully integrated business succession solutions wherever possible.
On the business side, buy-sell agreements, voting trusts or family LLPs will address equity and management issues and future changes in operations or ownership. On the estate planning side, our goal is to make sure that current trust and testamentary instruments support plans for the smooth transfer of business assets and management control consistent with the owners’ objectives.
The sooner a client starts planning for future transfer of business interests to the next generation, an unrelated partner or a third-party purchaser, the better the client can anticipate and avoid intrafamily disagreements and the more they will protect their options. In some cases, especially when none of the owner’s children are interested in continuing family business operations, it makes sense to plan for the eventual sale of the company and take steps to maximize its value to a prospective purchaser.