Helping Minnesotan Business Owners For Decades
During the estate planning process, many serious, personal decisions must be made. Not only must you provide guidance in the event of your future incapacity or death, but you must also determine how your property is to be divided among surviving family members. When family-owned businesses are involved, these decisions become even more challenging.
For almost 25 years, our attorneys have been developing sophisticated business succession plans that keep family businesses in the family and provide fair and clear guidance for the next generation of owners.
At the St. Paul office of Scott + Hespen Law, PLLC, we help individuals preserve their family businesses for the next generation.
Planning For The Future: Passing Family-Owned Businesses On To The Next Generation
We help Minnesota business owners develop strategic business succession plans that meet their long-term goals. Whether you want to ensure your family business stays in the family or liquidate your business and live off the proceeds, our attorneys can help.
You have spent your life building your business. We can help ensure your business and your legacy is preserved after you are gone. Our attorneys draft comprehensive business succession plans that clearly dictate how business interests will be divided, if any necessary training will be required, and when duties and responsibilities will transition to the new owners.
Our attorneys create business succession plans with an eye toward reducing our clients’ overall tax liabilities. We often build tax-savings tools — including installment agreements, family limited partnerships and trusts — into clients’ business succession plans to ensure our clients obtain the most beneficial tax treatment possible.
When businesses are family owned, family relationships and dynamics must be considered. When one child takes over the family business and the other chooses another path, estate planning documents may need to be adjusted to ensure all children are treated fairly from an inheritance standpoint.
Minneapolis Small Business Planning Lawyers
Our lawyers help Minnesota business owners plan for what comes next. Entrepreneurs often turn to our firm when they need help forming their start-up businesses. Check out our business planning FAQ page to learn more about protecting your business.
Our attorneys also provide tax planning advice to existing businesses and counsel clients on liability issues involving their businesses.