Succession planning ensures survival and growth of the business, preserves family harmony, minimizes taxes and facilitates retirement.
See our checklist of business succession issues.
However, balancing the goals of the owners, the buyers or transferees, and the business can be difficult. A variety of options are available, including gifts, sales or exchanges, installment obligations or private annuities, and employee stock ownerships plans.
The firm’s financial planning team represents individuals (including professionals), closely held businesses and small companies with regard to estate planning, tax, and business succession issues. Areas of focus within the section include wills, probate, trusts, long-term care planning, charitable and planned giving, retirement planning, executive compensation and tax considerations.
Section members are recognized by their peers for their abilities and contributions in the practice area:
- members have been on the Super Lawyers® list and “Leading American Attorneys,”
- others have been certified as real estate specialists.
The section is backed by experienced business operations attorneys and litigators. In addition, Lommen Abdo’s appellate department regularly appears before the Minnesota and Wisconsin state and federal appellate courts, including the Seventh and Eighth Circuit Court of Appeals and specialty courts such as the tax court.
We would be pleased to answer any questions you may have about the services of our Business Succession Planning attorneys. Any questions may be directed to:
In Minnesota:
Tom Dougherty at 612-336-9330 or tdougherty@lommen.com
In Wisconsin:
Glenn Kessel at 612-336-9338 or glenn@lommen.com
or any of the attorneys in this practice area pictured below.