Business Succession Planning
Many small businesses are not strong enough to survive after the retirement or passing of the owner of the business. Unfortunately, all too often, we see a lack of planning on the part of such owners and significant value is lost to the family upon the retirement or death of the owner. An integral part of our estate planning practice is our business succession planning.
As part of the business succession planning practice, Odom Law Group provides counseling for principals of small, mid-sized, and closely held businesses regarding strategies for transferring their business interests upon their death or incapacity, either to beneficiaries through an estate plan or to other business partners through a buy-sell agreement. This includes a focus on asset protection and of course, business planning, including for limited liability companies and family limited partnerships. Specifically, our firm has experience assisting with estate planning for those unique family-owned business needs.