A Successful Transition Is Planned Well In Advance
It is counterintuitive to think about business succession when you are at the top of your game. The irony is that your options are often limited if you wait until you are approaching retirement. It takes time to develop in-house options and establish policies that provide incentives for long-time employees who might be successors. Not to mention the challenges presented in valuing a closely held business and protecting your interests if you are bought out over time. It takes in-depth planning in advance to exit a business successfully.
At Applegate Fifer Pulliam LLC, our attorneys want to be part of your team – trusted advisers helping you tackle this difficult task. Let us share with you successful strategies our clients have employed and lessons that we have learned over the years. You have worked hard to build your business. If you are like a lot of our clients, your business is your nest egg. Make sure you are giving it the attention it deserves so that it may continue to serve you well in the future.
Helping Clients Transfer Their Businesses
At Applegate Fifer Pulliam LLC, we are well-aware of the interesting dynamics involved in family-owned businesses. Whether it is the friction caused by the next generation that thinks they can do things better or the problems that result from perceived unfairness or disagreements between siblings, we have experienced it from all sides. Our attorneys help clients:
- Determine business value
- Formulate exit strategies
- Draft shareholder and buy-sell agreements
- Mediate and litigate disputes that arise in the succession process
If you have a family business, our goal will be to help you establish clear expectations, define roles and, if things are not working, to provide you with mechanisms for family members to get away from each other and hopefully preserve their preexisting relationships.
Succession For Professional Practices
Practice groups of professionals in business tend to present their own unique challenges. Our lead attorney in this area, Keith Pulliam, has experience working with doctors, financial planners, accountants and lawyers. He will listen to you and make suggestions tailored to your specific needs.