BUSINESS SUCCESSION PLANNING

Business Succession Planning

Business succession planning is more important than ever. It is absolutely critical that a business owner’s wishes—whether included in a corporate resolution, buy/sell agreement or even last will and testament—address the commercial law issues inherent in determining who will run the business after they are gone. The Nissenbaum Law Group provides business succession planning, involving such items as:

• defining who would take over running the day-to-day affairs of the business if the person in charge were out of commission for any length of time;
• putting in place the basic corporate formality documentation, as well as planning for such items as the conveyance of underlying real estate and making provision for key-man insurance; and
• integrating the business succession protocols with the estate planning for the business principal(s).
• advising law firms on the unique ethical and legal aspects of their succession planning
• other legal questions when buying a business or selling a business or franchise

Our firm focuses on the commercial aspect of these items and will generally function as part of a team involving the accountant, insurance broker and the business principal’s estate counsel.