A while ago we talked about what would happen if you were to sell your business to your valued employee that loves the business as much as you did. That is all well and good but what if it is your daughter who loves your hard-fought small business? Let’s say you have left her all of your business related assets in your will and think that everything is just fine. Well, what about the point when you feel that it is time to retire and shift your focus away from the day-to-day operations of the business? It is not as easy as simply handing it over. Luckily, you have the business law experts in your very own backyard.
Lyons|Sullivan can guide you through the process of shifting the family business to a son or daughter. We have the experience to guide you through the legal process and leave it as painless as possible. Shifting control of a business to your child should be a joyous time in everyone’s life. It is symbolically passing the torch to the next generation. It means all of your hard work being able to benefit your family and seeing the fruits of your labor being carried on by your offspring. Do not let the experience turn into a legal nightmare for anyone. Make sure that you have everything in order and exactly as it should be. Lyons|Sullivan are here for you and want you to let us handle all of the paperwork for a succession planning situation. Call today to get started.