Owners of privately held businesses face difficult questions as they contemplate reducing their involvement in daily operations and creating liquidity. Which succession strategy will best benefit the owner, the family, the company and valued employees?
Husch Blackwell’s Business Succession Planning team understands the issues and emotions that may arise from these transition events. Our multidisciplinary group provides independent, holistic counsel that helps clients identify their succession goals and determine how to accomplish them.
Our experienced team includes attorneys who are authorities in organizational structure, gift and estate planning, taxes, compensation strategies, employee stock ownership plans (ESOPs), joint ventures, and mergers and acquisitions. The unbiased counsel we provide equips business owners to make smart succession decisions.
View an interactive flowchart that illustrates how Husch Blackwell guides business owners in developing successful transition strategies.
A Personalized Process
Owners who are contemplating succession typically have one or more of three goals:
Each of the goals presents unique issues and opportunities. For example, if the business is to be retained, how will the owner equitably treat children who are involved and not involved? How can management be motivated to succeed? Or, if the business is to be sold, how can the owner best preserve the legacy of the company and reward any valued employees? How can the selling price be maximized? How will taxes be minimized?
Husch Blackwell’s Business Succession Planning team helps business owners weigh alternatives to meet their goals; identify and negotiate with their advisors, buyers and others; strategize on tax issues; and execute the chosen alternatives.