Helping Businesses Create Effective Succession Strategies

Owning a business is both a financial and emotional investment. If you are considering retirement, or are simply looking ahead to the future, it is important to put a strong succession plan in place. If you don't have a plan in place, you are not likely to receive fair market value for your business.

Whatever your situation involves, it is critical to have an experienced lawyer working with you. For decades, Brian Bronsther of The Bronsther Law Firm P.C. has helped owners of closely held businesses across New York State develop succession plans.

Do you have questions about business succession planning? Feel free to view our FAQ page on this topic. You can also set up a consultation by calling 518-952-9044.

Creating A Buy-Sell Agreement

If you have a business partner, it is important to discuss a buy-sell agreement. In business partnerships, a buy-sell agreement will lay out the terms and conditions to be followed when one partner transfers his or her interest. A buy-sell agreement is critical to preserving the value of a company. If a partner dies or becomes disabled, it may force the other partner to sell to an unknown entity. Of equal importance, a buy-sell agreement will help to ensure that a business partner receives fair market value for his or her share in the company.

Business Succession Planning Goes Hand In Hand With Estate Planning

If you own a family business and want to keep it in your family, our law firm can help you develop a succession plan as part of your overall estate plan as well. Such a plan can make sure that any children who do not maintain a stake in the business are treated equitably.

With more than 30 years of legal experience, attorney Brian Bronsther is equipped to help you take on all sorts of business succession challenges, including situations where business partners must act quickly and decisively.

Contact The Bronsther Law Firm P.C.

Call 518-952-9044 or complete our online contact form to get started. With offices in Latham, Clifton Park and South Florida, our law firm works with businesses and individuals across the Capital Region.