A lawyer is an invaluable partner in preparing for your financial future. If you don’t take the time to plan now, upon disagreement with your partners or co-owners, or upon your death, retirement, disability, or incapacity the law will plan for you. If you leave things up to the law it can prove time-consuming and expensive for your loved ones and contrary to your actual personal and business wishes. In the worst-case scenario, failure to plan for your business's future can lead to the destruction of your business entirely. With succession planning you can preserve the legacy of all you have built with your business as well as lessen the burden on your family if you become incapacitated or when you pass away. Whether you reside in Nevada or California, Assly Sayyar can assist you in preparing a succession plan for your business and assist in preparing your personal succession plan through a trust and related ancillary documents that reflect your final wishes.
Whether want to sell your business at retirement (or within a set number of years) or buy out other business owners or go public or dissolve, succession planning documents also help prevent lengthy legal battles between business partners regarding the valuation of the business. Having a plan in place before a life-changing event or a critical turn in the business market makes a profound difference in how your business weathers change. Moreover, with the input of a client’s financial advisors and certified public accountants, succession planning can assist in minimizing tax burdens.
These types of legal documents are not just for the extremely wealthy. Every business owner should have a succession plan in place so that a sudden event does not inadvertently destroy all that has been built. Assly Sayyar and her colleagues have put together a Succession Plan Package to allow business owners to make plans and help answer questions you may not even realize you had.
Without an estate plan complete with business-focused documents, even small business owners and everyday people can leave expensive and time-consuming probate behind for their families to deal with when they die. A little preparation beforehand can save your family a great deal of stress, money, and heartache. Your business legacy can be preserved. You can make sure your wishes are known and your family is protected in the future through estate and succession planning.