Business Succession Planning

Exit Strategy Planning for Business Owners

What's Your Exit Strategy?

What is Business Succession Planning?

If you are a business owner, your business often represents one of your most valuable assets as well as your life's work. A highly effective estate or asset protection plan is predicated upon having an effective business plan. Such a plan should help you earn the greatest possible return on your initial investment, minimize your tax liability, protect your family and the business entity itself, while allowing for the possibility of growth and success. A well thought out plan will also offer protection against the financial consequences of operational problems or downturns in the economy. Finally, it must take into account the timing and manner of your exit from the business.

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Who Benefits from Business Planning?

The Estate Planning Law Group assists owners of businesses - both large and small - at start-up, exit, and at every stage in between. It has been our experience that the very best plans depend upon collaboration. We welcome the opportunity to work closely with your company's financial advisors, attorneys, CPAs, CFOs and whomever else you view as a trusted advisor. We can provide you with all of the following business planning services.

• Entity selection and formation
• Contract preparation and review
• Buy-sell agreements
• Sales and acquisitions of business concerns
• Shareholders and partnership agreements
• Strategies for structuring capital investments and infusion of capital
• Exit and succession planning strategies
• Non-profit Formation and 501c(3) Charitable Foundations

A comprehensive and thoughtful Business Plan can address these issues.

What Should You Expect During the Planning Process?

The first step in the planning process is to talk with Gloria Albus, our Client Services Coordinator. You can call her at 630-871-8778 or request a call here. Gloria will ask you a few questions about your planning needs and let you know how our firm works and what to expect. If you would like to schedule an initial meeting with an attorney, Gloria will send you a new client information packet, which includes information about what to expect.

The packet also includes a Company Worksheet, which will help you start the information gathering process. Please go ahead and fill out the worksheet as best as you can and return it to our office prior to your initial meeting. The initial meeting is a working meeting, and we want you to get as much out of it as possible. Gloria can help you if you have any questions.

At your initial meeting with either attorney Bill Deitch or Kirsten Izatt, we will explore your hopes, dreams fears and aspirations to determine how best to address you unique circumstances.

Schedule an appointment or telephone call to discuss your needs.