Planning for the future of your business is essential to ensure its continued success and smooth transition to the next generation or new ownership. At LMB Partners, we specialize in creating and managing irrevocable business succession plans that protect your business interests and provide a clear roadmap for the future. Our experienced attorneys provide comprehensive services to help you secure your business legacy and ensure a seamless transition.

Our Services

Succession Planning

Creating a robust succession plan involves careful planning and execution. Our services include:

• Initial Consultation: Understanding your business structure, goals, and long-term vision.

• Drafting Succession Plans: Crafting detailed and customized succession plans that outline the transfer of ownership and management responsibilities.

• Stakeholder Engagement: Engaging with key stakeholders to ensure alignment and smooth implementation of the succession plan.

Types of Irrevocable Business Succession Plans

We offer expertise in various types of irrevocable business succession plans, including:

• Buy-Sell Agreements: Establishing agreements that facilitate the transfer of business ownership in the event of retirement, death, or disability of an owner.

• Family Business Succession: Developing plans that ensure the seamless transfer of family-owned businesses to the next generation.

• Management Succession: Creating strategies to identify and prepare internal candidates for leadership roles.

• Employee Stock Ownership Plans (ESOPs): Designing ESOPs that allow employees to acquire ownership interest in the company.

Plan Implementation

Effective implementation is crucial for the success of a succession plan. Our services include:

• Plan Execution: Assisting in the execution of the succession plan to ensure a smooth transition.

• Training and Development: Providing training and development programs for successors to prepare them for their new roles.

• Legal Compliance: Ensuring all aspects of the succession plan comply with applicable laws and regulations.

Plan Administration

Ongoing administration is essential to maintain the effectiveness of a succession plan. Our services include:

• Trustee Services: Serving as a trustee or advising trustees on their fiduciary responsibilities.

• Plan Review and Updates: Regularly reviewing and updating the succession plan to reflect changes in the business or personal circumstances.

• Conflict Resolution: Addressing any disputes or conflicts that arise during the implementation and administration of the succession plan.

Why Choose Us?

• Expertise and Experience: Our attorneys have extensive experience in business law and succession planning, providing insightful and effective legal solutions.

• Personalized Service: We take the time to understand your unique business needs and craft customized succession plans that reflect your specific circumstances and goals.

• Proactive Approach: We offer proactive advice and planning to help you make informed decisions and avoid potential issues.

• Client-Centered Service: Your business's success and continuity are our top priorities. We provide clear communication, responsive support, and dedicated representation throughout the succession planning process.

Contact Us

For expert assistance in creating, implementing, or administering irrevocable business succession plans, LMB Partners is here to help. Contact us today to schedule a consultation and learn how we can support your goals and ensure the future success of your business.