Business Succession

After working for many years to build and establish a closely held or family business, it is important to be able to plan properly so the business can be passed on to the next generation and not have to be sold in order to pay taxes or other debts of the estate. The most important document for any closely held business is the Buy/Sell Agreement. For a family owned business a Buy/Sell Agreement is essential to produce the desired estate planning results as well as providing succession of management and ownership to the younger generation.