Business Succession Planning

Seasoned, balanced counsel when transitioning a business from one generation to the next.

Business succession planning is essential for any business owner seeking to ensure a seamless transition of management, preserve the company’s legacy, and protect the interests of both the business and its stakeholders. DRM’s Business Succession Planning Group delivers tailored legal counsel to business owners, closely held companies, and family-run enterprises during this important transition.

Our Business Succession Planning Services include:

• Structured Buyouts and Transfers
  We advise on and facilitate the negotiation of buy-sell agreements, structured buyouts, and shareholder cross-purchase agreements, offering solutions for transitions between family members, third parties, or key employees.
• Tax-Efficient Ownership Transitions
  Our attorneys provide strategic guidance on the transfer of business interests through gifting, trusts, or installment sale agreements, ensuring clients minimize tax liability and maximize the value retained by the business and its owners.
• Tax Structuring
  Identifying the most tax efficient structure—including LLCs, partnerships, C and S corporations and Code section 1202 Qualified Small Business Stock–for future business operations and growth, business transfer, spin-offs and minimizing tax on future sale of a business.
• Estate Planning Integration
  We align business succession plans with personal estate planning arrangements, so that both personal and business goals are met and conflicts are minimized.
• Contingency and Management Planning
  Our practice addresses what happens if an owner becomes incapacitated or passes suddenly, including designating interim management, establishing key-person insurance, and ensuring continuity of daily operations.

Clients benefit from our approach which integrates sophisticated, experienced business law counsel and insightful, personal relationships with our estate planning team.

• Comprehensive, Collaborative Approach
  We work alongside clients’ accountants, financial advisors, and insurance professionals, bringing multi-disciplinary expertise to every succession strategy and ensuring every aspect—from commercial law issues to real estate and debt settlement—is addressed thoughtfully.
• Protection of Family and Non-Family Interests
  Whether planning for succession within the family or contemplating a sale to an outside party, we help create plans that honor the founder’s intentions and secure business longevity.
• Sensitive Transitions and Dispute Prevention
  Recognizing the complex personal and business dynamics involved, we offer personalized advice with an emphasis on discretion and the prevention of future disputes among all involved parties.

DRM’s Business Succession Planning Group includes attorneys from our business law, tax law, real estate, estate planning and employment law practices – all working together towards the common goal of ensuring our clients enjoy business and personal continuity and stability for the next generation and beyond.