Business succession planning can be one of the most important steps a business owner takes to ensure the long-term success of his or her business.  Failure to plan for business succession can result in both monetary losses and even loss of the business itself.  Estate taxes can claim 45 percent of a taxable estate which commonly results in liquidation of the business to pay those taxes.  Surviving family members are commonly not equipped to run the business which ultimately leads to monetary losses AND the loss of the business.  Liquidating a business or its assets under these circumstances usually leads to a “fire sale” where the business or its assets are sold for much less than fair market value.

Proper business succession planning allows business owners to avoid the financial pitfalls following the death or disability of the business owner.  A successful business succession plan provides adequate funding when ownership of a business is transferred so that the transition is accomplished as smoothly as possible and with minimal difficulty.

At Redler & Seigel, P.C., our St. Louis business succession planning attorneys understand the work that went into building your business.  We will take the time to analyze your company and help you create a business succession plan that will ensure that your goals for your business are met after you are no longer able to manage it.

Contact Redler & Seigel, P.C. and schedule a free initial consultation to discuss the business succession planning alternatives for your business.  We will review your business succession planning goals to ensure that both you and your family are protected to the greatest extent possible.