Pittsburgh Attorneys Establish Sound Business Succession Plans
Experienced Pennsylvania firm creates solutions tailored to your goals
Owning a successful business requires dedication and intense work, and making plans for what happens after you’ve left the business is just as vital. This is a task that is often pushed off, but unfortunately, we can never be sure what’s around the corner. Failing to make proper business succession arrangements can put everything you’ve built at risk. At Feldstein Grinberg Lang & McKee, P.C. in Pittsburgh, we work closely with Pennsylvania business owners to determine how to address expected or unexpected changes.
Thorough legal counselors help companies transfer ownership efficiently
Guidance from a qualified attorney can help you define business transition goals and establish legally enforceable plans. Our firm’s detailed understanding of business, tax, regulatory and estate planning issues will help you with:
- Shared ownership — When more than one person owns a business, choosing how to address a death or retirement can be problematic even within the strongest working relationships. We work with partners, shareholders, family members and others to ensure that clear succession instructions are set forth.
- Potential heirs — Valuing a business can be complicated and a sudden loss can leave heirs with unexpected inheritance tax. By making a detailed analysis of the existing assets and outlining potential estate planning consequences, we’ll help your loved ones avert costly surprises.
- Outside parties — A convenient way to dispose of a business is by sale to or merger with an outside entity or individual, but such transactions can be complicated. Whether or not you have a suitor in mind, we can make sure that the necessary parties are prepared to complete a transaction smoothly when the time comes.
- Trusts — Shifting the ownership of a business to a trust might have benefits, depending on your situation. Business owners use trusts to avoid probate, to manage tax exposure or to maintain some influence over future operations. It is worthwhile to learn from a qualified lawyer how a trust might fulfill your intentions.
- Key employee concerns — Many small businesses are heavily dependent on key employees. Our attorneys can identify creative ways of transferring ownership to an indispensable worker, or securing their services once you depart.
Uncertainty is a reality in business, so creating an authoritative succession program is essential for every business, from newly launched startups to industry leaders. As seasoned Pennsylvania business counselors, we’ll build a solution tailored to your needs.
Contact a dedicated Pittsburgh attorney for advice on a business succession plan
Feldstein Grinberg Lang & McKee, P.C. counsels Pennsylvanians who seek to establish sound business succession arrangements. Please call 412-471-0677 or contact us online to make an appointment for a meeting at our Downtown Pittsburgh office.