Effective, Intelligent Business Succession Planning

Succession planning, as related to a family business, is the process of developing a plan to turn over or sell the business when the owner retires. Understanding the goals, objectives and capabilities of various family members and partners, as well as your financial needs for retirement, will determine how a succession plan will be structured.

An effective succession plan sets up a smooth transition, with minimal taxation and adequate management in place to carry the business forward. Business ownership and management must be determined. At Ferguson Cohen LLP, our lawyers can help you consider the parameters that need to be defined and incorporated into succession planning, such as whether the primary future focus is on supporting the family or supporting the business. With more than 160 years of cumulative legal experience, our team serves clients from offices in New York, Connecticut and Florida.

Ferguson Cohen LLP Cares About Protecting Your Legacy

Our attorneys will be glad to sit down with you and your family and assist you in building an effective succession plan. Please call our office at 203-896-4504 to arrange a consultation.