Business Succession Planning
At Kane, Norby & Reddick, P.C., we do more than solve problems; we guide businesses from start to finish. Our firm works closely with Dubuque’s business leaders to develop business succession plans that protect the financial interests of both the individual and the company.
Protecting Clients’ Financial Health
Having an established succession plan is an important part of business. Determining what will happen to the business in the event of an owner’s retirement, death or desire to sell will ensure an efficient transition in ownership while preserving the financial health of the organization.
Leaders in the business, banking and financial industries look to our firm for advice on business succession planning.
We consider the tax consequences of various succession plans. Our lawyers use private annuities and estate planning vehicles, such as grantor-retained annuity trusts, to funnel proceeds from a business sale and provide clients with beneficial tax treatment.
Tailored Succession Plans That Affect Your Goals
A business succession plan can take any number of approaches. At Kane, Norby & Reddick, P.C., our attorneys will tailor a succession plan that takes into account your personal goals and the needs of the company.
If your goal is to keep a family-owned business in the family, our attorneys can create family limited partnerships and use other estate planning tools to transfer business ownership to the next generation.
In addition to crafting succession plans, our firm also assists with the execution of the plan. Our services include:
- Developing and executing exit strategies
- Facilitating buy-sell agreements
- Facilitating installment sales
- Transferring business assets
- Assisting with the dissolution process
- Creating estate plans that transition the business to the next generation