Santa Ana, California Business Succession Planning Attorney
Helping Individuals in Santa Ana Navigate the Business Succession Process
Family businesses come in all shapes and sizes. While some family businesses have some form of operating entity involved, others only include capital that a single family or multiple families might administer. Some family businesses may contain certain types of real property, including real estate. When it comes to family business succession planning, it is important to understand not only how a particular family business functions and operates, but also how the family itself functions – especially when it comes to financial matters. In some instances, family members do not always get along, and this can create some strain when it comes to determining how succession of the business will play out.
If you own a family business and have questions about how your business will be passed on in the future, it is important to have an experienced Santa Ana business attorney by your side. Santa Ana business succession planning attorney Roshni T. Desai of the Law Offices of Roshni T. Desai can assist you with all of your business planning needs and address all of your legal concerns.
How does Business Succession Planning Help?
Business succession planning can be extremely helpful when it comes to preparing for the future of your business. Business succession planning can be helpful in all of the following ways:
It helps to ensure that the investment and management practices and strategies of a business continue on.
It helps to plan for any anticipated gift or estate taxes and can work to minimize those future tax burdens on the business.
It helps to provide the business owners with liquidity.
It works to ensure that family members, interested individuals, and beneficiaries are properly provided for and that their individual needs are taken care of.
Deciding the Ultimate Fate of the Business
When it comes to business succession decisions, there are two legal options that stand out. First, should the business owner allow his or her business to succeed to surviving family members via inheritance? Alternatively, should the owner simply sell the business to a third party for a profit?
In deciding what should ultimately happen with the business, an experienced Santa Ana business succession planning lawyer could offer advice as to how the family business might be valued, how the various tax consequences will be handled post-sale, and which individual or individuals will be responsible for negotiating the terms of the business’ sale.
Call a Santa Ana, California Business Succession Planning Lawyer Today
When making decisions about family business succession, an experienced attorney can be extremely helpful. Lawyer Roshni T. Desai of the Law Offices of Roshni T. Desai can meet with you to discuss your business plans and can help you reach a decision that will be best for your business and for your surviving loved ones.
To schedule a free consultation and case evaluation with a Santa Ana, California business succession planning attorney, please call us at 714-442-2340 or contact us online for more information.