Business Succession Planning

Gravel & Shea’s business and estate planning attorneys counsel owners of privately-held and family-owned businesses as they contemplate exiting daily operations, creating liquidity, passing the business to the next generation, or planning for increased assets and liabilities from an outright sale. Understanding the issues and emotions that often arise in business succession transitions, we provide holistic guidance that helps clients identify their succession goals and how best to accomplish them.

Our experienced team of business succession planning attorneys includes authorities in organizational structure, gift and estate planning, taxes, compensation strategies, employee stock ownership plans (ESOPs), and mergers and acquisitions. Our personalized approach to business succession planning helps clients make smart succession decisions that benefit the owner, the owner’s family, the company and valued employees. In this area we have worked with clients in developing, among other strategies, the following:

  • Sales of businesses to children and other relatives
  • Gifting programs designed to transition businesses and decrease estate and income taxes
  • Life insurance planning to reduce the impact of an untimely death
  • Structuring deferred compensation plans to provide a stream of income during retirement
  • Advising on and structuring sales to Employee Stock Ownership Plans to take advantage of income tax deferral and transition businesses to employees

Members of this group bring a multi-faceted approach to family business planning and work integrally with other business advisors such as accountants, investment advisors and insurance professionals.