Succession Planning

The attorneys of Sirote & Permutt’s Succession Planning group help business owners design and implement business structures and succession plans to transfer the ownership and management of their companies and professional practices in a straightforward, tax-efficient manner.

Business succession planning often involves the sale or gifting of business interests to family members, sometimes across multiple generations. From establishing the most appropriate entity for your business and implementing Buy-Sell Agreements to govern the transfer of ownership, to assisting with the eventual transfer of ownership through the use of Grantor Retained Annuity Trusts, sales to "intentionally defective" Grantor Trusts (including Dynasty Trusts) and other sophisticated planning techniques, Sirote's attorneys provide a full range of services to help ensure the stability and continuity of your organization.

It is not always possible or desirable to transfer ownership of your business to a family member. In those situations, we can assist with the sale of business interests to employees or third party investors in a tax-favored manner.

Attorneys within our Succession Planning group provide a wide range of services, including:

  • Wills, trusts and asset protection
  • Real estate and property transfers
  • Tax liability planning
  • Employee contracts and handbooks
  • Multi-generational family meetings