Transferring a Business to the Next Generation
Many small business owners have concerns over what will happen to their business after they die. Whether they wish to transfer the business to a family member or trusted employee, or dissolve and distribute it, the legal process can be multi-step and complicated.
At the Law Offices of Jasleen K. Anand, we assist clients in business succession planning. For more information or to schedule a free consultation, please contact us by calling (866) 728-8389. Our office is located in Nassau County, and we serve clients throughout New York City.
When Should a Business be Transferred?
It is possible to transfer a business after the owner dies. However, doing so while the business is still in operation and while the owner is still living can minimize the complications for entire families.
The transfer of closely-held businesses requires involvement from family members and all involved. The two cannot be separated. Accordingly, our attorneys work with families to determine the best approach for succession planning. We can explore family limited partnerships, transferable trusts, and other business succession planning options.
Common Concerns
- How can I minimize financial loss when I transfer a business?
- How can I afford to buy my partner's share of the business?
- How can I minimize estate taxes?
- How can I deal with significant business debt?
- What rights will my surviving spouse have as opposed to other survivors?
At the Law Offices of Jasleen K. Anand, our estate planning attorneys will help you answer all your tough questions regarding business succession. Every business owner has different goals and objectives. It is our goal to develop a plan that helps you meet your unique goals and minimize cost for your business.
Contact Us
For more information about succession planning, contact our lawyers by calling (866) 728-8389. We offer free consultations.
Hindi and Punjabi spoken.
Weekend and evening consultations available by appointment.
