Greensboro Succession Planning Attorney
How Do You Envision the Future of Your Business?
Succession planning allows you to develop action plans for your business, identifying critical positions and designating who will occupy those positions in the years to come. Succession planning includes which family members can work in your business, how profits are distributed, and the next generation of leadership, and it acts as a key part of your business strategy, both strengthening the business now and securing its success and longevity in the future.
The Importance of Creating a Succession Plan for Your Business
If you have a business, you know firsthand that it takes a lot of effort to be successful. Have you ever considered what will happen years from now when you can no longer run the business or when circumstances change? With a succession plan, you can protect the time, effort, and money you’ve invested into building a successful company.
A succession plan helps you:
- Outline internal transfers to a family member and business restructuring
- Identify potential buyers
- Avoid disputes among family members
- Protect your business assets
- identify your most-qualified leaders for future promotions and maintain control of the direction of the business
- Reduce federal and state taxes
- Help the company plan for the long-term
We Can Help You Create a Business Succession Plan in Greensboro
Every business is different, so at L Howard Law, PLLC, we offer you individual advice tailored to the needs and operations unique to your business. We work with you to design, improve, and implement an effective emergency and long-term succession plan to ensure your business is successful for decades down the road.
Succession planning is fundamental for any business that wants to ensure its future success and is especially necessary for family businesses. That’s why we are committed to preparing a succession plan that will bring you peace of mind for years to come. To date, Ms. Howard has helped hundreds of companies create succession plans while complying with the law. We adapt to the specific characteristics of your business and accompany you throughout the process.
If you run a family business in Greensboro, NC and you want to start working on a succession plan, contact us at (336) 585-7009 or book your free initial consultation.
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