Business Succession Planning

A business succession plan is a vital element of any business concern and an important investment in the future of not only the business itself, but of the business owners. Members of the Bowles Rice Team work with business owners of all sizes to create business and management succession plans through various arrangements including buy-sell agreements, ESOPS, deferred compensation, stock option plans or business continuation agreements. These arrangements provide the terms for the disposition of a business in the event of an owner's death, disability, retirement or withdrawal from the business, as well as create a market for sale of the business.

Moreover, we recognize the importance of input from all members of a business's financial team, including the accountants and/or financial advisors. We take a collaborative approach to business succession planning by leveraging the knowledge of the business' advisors to develop the best plan for the business and its owners.

With timely planning, the value of the business can benefit the owner and succeeding generations, as well as employees and the community. Any plan should take income, gift and estate tax consequences and the time value of money into account. Any plan should also consider liquidity needs including the source of funds for any buy-out.