Business Succession Planning Attorneys In Lynnwood
Nobody wants to spend their working years building a business empire from scratch only to have it all fall apart as soon as they retire or pass away. Business succession planning is the best way to preserve your legacy.
At Riach Gese Jacobs PLLC, we help Lynnwood, Washington, business owners secure the future of their companies through comprehensive, personalized estate planning. Since 1959, we have made it our business to help others with their businesses via strategic approaches to succession planning.
Why Should You Make A Business Succession Plan?
A business succession plan is a strategic process to allow new management and ownership of a business after you pass away, retire or seek new opportunities. This plan predetermines what happens when ownership of a business is passed on to a new owner.
The goal of a business succession plan is to smoothly transfer ownership to new management without disrupting the company’s existing operations. Once a business succession plan is established, it can outline the mission of the business, financial projections, day-to-day operations and sales strategies.
What Should You Include In A Business Succession Plan?
Our Lynnwood lawyers can help you draft your business succession plan. Some common succession planning strategies include:
- Business transfer through buy-sell agreements
- Management buyouts
- Mergers and acquisitions
- Private annuities
- Grantor Retained Annuity Trusts (GRAT) or Unitrusts (GRUT)
- Family partnerships
Every business succession plan is tailor-made, with the unique needs of the industry and company in mind. Whether your business is a family-held company, an LLC or something else, we can help.
What Can Riach Gese Jacobs PLLC Do For You?
At Riach Gese Jacobs PLLC, our attorneys have decades of experience with all aspects of estate planning, including asset protection strategies and more. Our attorneys can help you integrate your business succession plan into your overall estate plan, define your succession goals, minimize taxation, draft all the necessary documents and – when the time comes – ensure that ownership is properly transferred.
Call Today To Talk About The Future Of Your Business
Do you want to learn more about how a business succession plan can benefit your estate plan? You can reach out to Riach Gese Jacobs PLLC at 425-329-7857 or fill out an online contact form to speak to an experienced business succession planning attorney.