Succession Planning

Retirement can seem impossible. We can help you plan your exit.

If you are like the majority of the other 30 million small business owners in the U.S., your business is the majority of your retirement plan. Whether your plan is to sell the business to a third party, or transition ownership to your employees, odds are the majority of the funds you’re counting on when you retire are tied up in your business.

Start succession planning before it’s too late.

Most small business owners start thinking about succession planning in their 60s, when they are facing retirement. Not only is this too late, but the vast majority of owners fail to consider what will happen if they die or a disability stops them from being able to run their business before retirement.

Selling your business in a fire sale is not the best way to ensure financial security for your family. The same is true for succession planning. Try selling your business when you are facing retirement – the buyer knows you need out, and they will use that as leverage in the negotiation.

Transferring your business to employees.

The same is true even if you are planning to transfer the business to your current employees. You may have waited too long and that key employee you were counting on gave up and left for another company.

We can help you plan your transition.

Whether or not you are ready to transition out of your business tomorrow or are looking down the road 20 years, exiting your business involves careful planning. Owners may benefit from providing employees with phantom stock or profit-sharing agreements, structures allowing you to transfer ownership interests to employees over a drawn-out period of time. Owners looking to sell their business will need assistance negotiating sale agreements and consulting agreements.

“Working with Waltz, Palmer and Dawson was and always has been a simple, smooth and very professional process. The entire staff is helpful and knowledgeable, which makes for a great experience every time I have worked with them.”

Mike Reppe
Owner

No over-lawyering. No big delays. Just high-quality service.

The attorneys of Waltz, Palmer & Dawson, LLC have assisted numerous clients in successfully transitioning out of their current business through careful, structured planning. We look at the immediate structure in place and help you achieve your specific goals by devising a new structure tailored to your needs.

Take the mystery out of your legal billing.

Contact WPD to get help with your succession planning.

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