Madison Business Succession Planning Attorney
Proudly Serving Business Owners Throughout Wisconsin
At Krause Estate Planning & Elder Law Center, we know how important it is for business owners to have a succession plan in place to make sure they can successfully transfer ownership when they decide to move on to the next phase of their lives. Do you want to ensure the business you have worked so hard to build remains within your family? Then reach out to our talented legal team to discuss which succession strategies will maximize the value of your investment and ensure your business stays in the hands of those you trust.
We have effectively transferred a variety of businesses to family members, business partners, and third-party buyers on behalf of clients throughout Madison. Call (608) 344-5491 today to request a case consultation.
Our Dedicated Legal Professionals Can Start on Your Business Succession Plan Today
We understand that running a business can be overwhelming and stressful, which is why we sympathize with business owners who haven’t been able to find the time to plan for future changes in management or develop smart exit strategies. When you choose Krause Estate Planning & Elder Law Center to represent you, our seasoned legal team will get to work devising a well-rounded plan for your business so you can focus your time and energy on growing your brand.
Contact our law office in Madison to speak to our legal professionals about any of the following business succession matters:
- Buy & Sell Agreements
- Life Insurance Policies
- Pension Plans
- Sole Proprietors
- Family-Run Businesses
- Transfer of Business Assets to Heirs
- Minimizing federal and state taxes
- Employment Termination Agreements
- Employment Agreements
- Non-Disclosure Agreements
- Technology License Agreements
- Restrictive Covenants
- Financial Reporting
- Stock Records
- Corporate Documents
What Are the Benefits of Having a Business Exit Strategy
- Minimize Taxes: A properly planned exit strategy can be used by business owners to funnel a portion of their profits to keep them in a lower tax bracket when they decide to liquidate the business. You also need a strategy if you want to leave your business to a family member and limit estate taxes.
- Maximize Investments: It is crucial that business owners strategically invest in assets that will increase the value of their businesses over time. If you want to eventually sell or transfer your business, then you need to invest differently than if you were planning to run the business for a long time.
- Maximize the Valuation: If you want to transfer your business to your family members, it is crucial to have a plan in place that maximizes the after-tax value when it is finally sold.
How to Transfer Business Ownership
Transferring business ownership in Wisconsin can be a complicated legal process with lots of paperwork. Depending on the type of business you have and ownership details, different forms may apply. There are certain ways to complete this transfer that may benefit you and/or the recipients more than other ways. That is why it is important to have an attorney to help guide you to the best decisions. Plus, having a good lawyer can make this process as painless and as easy to understand as possible.
Pursuit of Excellence