Spencer Fane LLP Logo

Business Succession and Transition Planning

Spencer Fane Tax, Trusts, & Estates attorneys help business owners clarify their individual exit, succession, and transition plans in an effort to provide good alternatives to an unintended and sometimes forced sale while protecting a significant estate asset. We help owners of closely held businesses balance running a successful and profitable operation while keeping an eye on the future.

All owners leave their business at some point — whether through a sale to a third party, transition to a family member, death, or disability. Our attorneys walk owners through potential options for exiting the business, including continuing to own the business with a management team in place that allows them to retire or transferring to a third party, a family member, or other insider.

We help clients identify the appropriate plan for their personal situation and guide them through planning the entire process from desired departure date through matters related to transition and to properly allocate the money needed to provide for future needs.

Our experience includes advising on the sensitive issues related to a family business with a focus on fair, sensible solutions that maintain harmony among all generations of interested stakeholders. We also collaborate with colleagues in our Corporate and Business Transactions practice when it is time for an exit or transition to take place to determine how ownership and management of the business affects others — now and in the future. This often involves assessing tax-efficient options that maximize assets for the overall estate plan and future needs.

No matter how complex the situation, our significant experience allows owners to achieve their goals for their businesses, their families, and their estates.