Business Succession Planning
No one wants to think about significant changes, particularly those that involve a tragic death. However, the hard work put into establishing a company requires a level of protection that only a business succession plan provides. The future of a family-owned business or corporation is put at risk without well-prepared action plans put in writing.
The sudden retirement, illness or death of someone who oversees a business creates chaos within the most stable organizations. While no one wants to think of a difficult transition or the loss of a beloved leader, proactive steps with the help of an attorney can reduce the stress of significant change.
Proactive Planning To Prepare For The Unexpected
The lawyers at Bennett, Weston, LaJone & Turner, P.C., combine experience in business law and estate planning to help Texas residents with the complex process of business succession planning. Many factors come into play, requiring experienced legal counsel to look out for a client’s best interests.
Business succession plans are an important part of estate plans. They name a competent successor to oversee the transition, but also provide set procedures to prepare for the unexpected. Such plans can give employees peace of mind over job security.
Family-owned businesses need retention plans or they run the risk of losing control of assets and possibly overall business operations. Larger corporations that fail to proactively plan find themselves in a difficult transition where competent leadership is lacking, putting a company’s future in doubt.
Protecting Your Assets. Preserving The Future Of A Business.
To schedule an initial consultation and case review regarding a business succession plan, contact a Dallas estate planning attorney at Bennett, Weston, LaJone & Turner, P.C., today.