New Jersey Business Succession Planning Attorneys
Changing the leadership within a company can cause significant problems that result in the dissolution of the business and economic harm to the principles and their families. Business succession planning can help ensure your company will avoid such an unfortunate and premature conclusion.
How We Can Help
Whether helping you establish strict guidelines on how leadership changes should be made and determining who is ‘next in line’ or resolving possible disputes in the event of an unstable environment, The Darling Law Firm provides solid solutions for any and all issues that may arise during this time.
We Guide You Through Creation Of The Plan
There are many issues that need to be addressed during succession planning, including:
- Restructuring of equity
- Updating Wills and Trusts of key principals
- Obtaining insurance and reviewing existing insurance policies
- Drafting buy-sell agreements
Adding Value to Your Existing Succession Strategy
Once a succession plan has been established, it is critically important that the plan be reviewed and updated as circumstances change. Throughout the life of a business there are changes, whether they are your customers, suppliers, ingredients, building and equipment leases or purchases, your processes and even products. There are also constant changes in the lives of the business owners including divorce, illness, death, or the discovery that a child to whom you believed you would pass the business to is not interested in running the business. When changes occur we are available to offer reasonable solutions and guide you through the implementation of a new plan.
The Importance of Planning
Although few people enjoy dealing with such issues, legal representation when developing a succession plan is critical. Preparation of a succession plan is as important as proper estate planning for individuals. It provides for the future of all those involved in the business and also those who are supported by the business.
The Darling Law Firm will help you create a business succession plan that will resolve issues that will likely arise. We will provide solutions that are in the best interest of the business and its shareholders. Through our careful advice and implementation, your long term goals can be achieved and will be protected for the future.
Succession Planning Throughout Northern NJ
We serve property owners and buyers in Morris, Sussex, Warren, Bergen, Passaic, Union, Hudson and Essex Counties. The Darling Law Firm is your Northern NJ business succession planning firm.
To prepare for the future of your business and family through succession planning call 973-584-6200 to schedule a consultation in our office or click here to e-mail us.