Transferring ownership in your business is a complex process that is crucial to the long-term success, or even survival, of your business.
A business succession plan involves numerous legal, as well as personal and often family, concerns. There are typically concerns relating to taxation, the mechanics of the transfer of ownership, and properly financing and securing the transfer. There are also retirement concerns of the seller, cash flow concerns of the buyer to complete the transaction, the continued management of the business, and the overall effect of the transaction on each party’s estate plans. A well-prepared business succession plan should result in a win/win situation for both the buyer and seller.
Bonahoom & Bobilya have experienced, knowledgeable attorneys who can help guide buyers and sellers through the process of successfully transferring ownership of a business in a way that meets the goals of all parties involved while maintaining the strength of the business.