Asheville and Hendersonville Attorneys Helping Business Clients with Succession Planning
Plan your legacy. Protect your assets. Contact our experienced Asheville and Hendersonville estate planning attorneys now at 828-258-0994 or 828-696-1811.
Establishing a successful and profitable business from the ground up is a remarkable accomplishment. While you cannot run the business forever, you do have a say in who will assume control of its operations. At Strauss & Associates, P.A., located in Asheville and Hendersonville, North Carolina, we help clients with all aspects of business succession planning.
The Need for Succession Planning
According to the Small Business Administration, roughly 90% of American businesses are family-owned, yet only 30% of these companies are successfully transitioned into the second generation, and a mere 15% survive into the third. See J. H. Astrachan and M. C. Shanker, Family Businesses' Contribution
to the U.S. Economy: A Closer Look, Family Business Review, September 2003. The primary reason that many closely-held businesses fail to continue in successive generations is because they do not have succession plans.
Whether you want to reward a hard-working family member or a loyal employee for their help in making your business a success or just want to sell the business and retire, a comprehensive business succession plan can help ensure a seamless transition in ownership and minimal disruption to operations. No matter what your situation may be, Strauss & Associates, P.A. can help you successfully plan for the future.
Designating Your Successor
We help clients with the difficult and sometimes overwhelming process of succession planning. Please note, you do not necessarily have to designate your child or children as successor to a family business. In fact, professional and personal matters must be separated if a son or daughter does not possess the skills or business acumen to run a business built with hard work and solid leadership.
Succession Planning Towards a Smooth Transition
The end of your tenure as a business owner should not represent the end of your company. A smooth exit plan and ownership transition will help your business continue its success. Let us put our extensive experience in succession planning to work for you. Together, we can work to acquire the peace of mind in knowing that your business will continue to succeed long after you are gone.
Contact Us
For more information or to schedule an appointment with an experienced lawyer regarding succession planning, please contact us. We also welcome calls from financial planners and accountants in need of an estate planning lawyer for their clientele.
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