Planning for Transfer to the Next Generation
Succession planning provides for a smooth transition of the business from the current ownership to heirs or others in a tax-advantaged way. As your legal counsel, we help envision the business in different hands, develop a plan for that transition, clarify the terms of transfer and anticipate potential conflicts. And we are there when unavoidable conflicts arise.
Hackensack Business Succession Lawyer
Amie Gartenberg practices in estate and business law, bringing 30 years of experience to the complex considerations of succession. She prepares the agreements in close consultation with the shareholders of the entity and often with those who will take over.
There are many big questions to answer and fine details to work out:
- Will succession occur in the foreseeable future or upon your death?
- Will the other principals stay, take a buyout or eventually sell the business?
- In a family-owned business, who inherits the shares?
- Who will manage the company after you're out of the picture?
- What is the inheritance tax/estate tax exposure?
We help clients implement a plan for future management and operation of the company, and a protocol for resolving internal disputes among the new owners. We can also establish trusts to take full advantage of the benefits a family limited partnership (FLP).
Bergen County Estate Planning Attorney
Our goal in business succession is to maximize tax advantages and minimize family conflicts. Call 877-319-7488 or contact us online to arrange a consultation at our offices in Hackensack (NJ) or Manhattan (NY).
From our law offices in Hackensack and Manhattan, Kirsch Gartenberg Howard LLP has served individuals and businesses across northern New Jersey, including Bergen County, Essex County, Union County, Middlesex County and Passaic County, and the five boroughs of New York City since 1984.
