We assist business owners at start-up, exit, and every stage in-between. Whatever the size of your business, we can help you select and create the best legal entity, assist with all of your commercial transactions and help develop a succession plan customized to meet your short and long term business goals. Our attorney will ensure that your personal and business assets will be protected and that you will experience a smooth and profitable transition when you choose to exit your business.
Business Succession Planning
A key component of an estate plan for business owner involves business succession. The best plans depend on working as a team to find answers to the following questions:
- How much cash will you need to meet your retirement needs?
- How much is your business worth?
- How can you maximize the income stream generated by the sale of your ownership interest?
- How do you sell your business to a third party and pay the least possible taxes?
- How do you transfer your business to family members, co-owners, or employees while paying the least possible taxes and ensuring maximum financial security?
- How do you ensure continuity in business operations if the unexpected happens to you?
- How do you secure financial independence for your family if the unexpected happens to you?
We work with business owners to find answers to these questions and to develop an optimal plan that works for you.
Contact Attorney Bob Prior About Estate & Business Succession Planning
BOB PRIOR is a Partner with Prior, Daniel & Wiltshire, LLC. Bob, a Madison native, is a 1982 graduate of Morgan County High School. He received an appointment to the United Stated Naval Academy at Annapolis, Maryland and graduated from Annapolis in 1986 with a Bachelor of Science degree in Mechanical Engineering.