Business Succession and Dissolution Planning
The exit strategy for some business owners is not a sale or merger - rather, the business will be passed on to the next generation.
Succession planning can be an opportunity for gift planning and part of a larger estate plan. Each client's situation is unique as to what they want to achieve and who they want to control the business after they are no longer involved. WYR attorneys have structured successions in many industries, including investment, manufacturing, construction, real estate, and professional services (including medical services and attorneys). This planning requires a broad background of business law experience to draft and review the extensive array of agreements and documents, including corporate governance, employee agreements, buy-sell agreements, security agreements, estate planning, and financing, among others. WYR's experience will lead your business into its next phase of life with the persons you intend to control it.
Dissolution planning for a business can be a contentious process between former business partners. Each has his or her own perspective on and goals he or she wishes to realize from the dissolution. They may include the acquisition or maintenance of a specific asset, client, or business method or the realization of the greatest value for his or her business interest or the business's assets. WYR can protect your interests or mediate an understanding and plan among former business partners. WYR attorneys will draft a dissolution plan, coordinate with your accountant, and make all necessary filings with the county, state, and IRS. They will initiate or defend alternative dispute resolution proceedings or litigation, if necessary.
These matters are important business decisions that WYR attorneys are skilled in discussing, negotiating, reviewing and drafting for your business. WYR's inspired, practical, and efficient counsel can also help you and your business with:
- Formation & Registration of Entities - Corporations, Limited Liability Companies, Partnerships, Joint Ventures, Sole Proprietorships
- Corporate Governance & Shareholder Agreements
- Contracts & General Business Matters
- Executive Compensation & Deferred Compensation
- Employee Agreements & Handbooks
- Secured Transactions & UCC Filings
- Providing for Additional Capital
- Mergers, Purchases & Sales of Businesses