Transferring Your Company To The Next Generation

No matter how successful your business is, there comes a point when you must relinquish control and turn the company over to new owners. The possibilities of retirement, incapacitation or death all make it necessary to have a secure legal plan in place for how this transfer will take place.

At the Florida law firm of Frese, Whitehead, Anderson & Henderson, P.A., we assist business owners in Viera, along the Space Coast and beyond to develop effective business succession plans. As a respected member of the local community for the past 25 years, our law firm has assisted numerous clients with these key estate planning and business law matters.

Our mission is to help clients transfer their companies to the next generation or to trusted employees while ensuring that the business will continue to operate successfully.

Creating Customized Plans To Address Unique Concerns

We can help you ask several key questions as you think about the future of your business, such as:

• How much is your business or share worth?
• What is your estimated retirement age?
• Does your heir possess the acumen or passion to lead your company forward?
• What is the best vehicle for transferring equity to your heir or selling it for the benefit of your estate?
• Are your business, legal and financial records accurate and complete?
• What else can you do today to make the eventual transition easier for partners, employees, stakeholders and clients?

The attorneys at Frese, Whitehead, Anderson & Henderson, P.A., are skilled in developing customized succession plans that take into account particular business needs or unique family dynamics.

For instance, you may intend to transfer your business to all three of your children, but only two actually work in the company. The third doesn’t have any interest in or knowledge about the industry. How can you treat your children equally and fairly while still ensuring that the company’s day-to-day operations are handled competently? This is where our business law experience comes into play.

We Can Help You Hone Your Goals

Even if you do not already have all the answers to your business succession plan now, that is perfectly fine. These decisions take time, and we can give you the insight and information you need to make the best possible choices. To arrange a consultation about business succession planning with one of our lawyers, call our Melbourne, Florida, office at 321-984-3300. Alternatively, you can contact us online.