southern
indiana
As a business owner, you’ve worked tirelessly to build your company. But what happens when you’re ready to step back? Without a clear business succession plan, your business could face legal challenges, financial strain, or even dissolution.
As business succession planning attorneys with decades of legal experience, we help business owners in New Albany, Indiana, and the surrounding communities secure their legacies with personalized succession strategies.
Call us today at 812-944-8005 to schedule a consultation with an experienced New Albany business succession planning lawyer.
Business succession planning ensures a smooth transition of ownership and management when the time comes—whether due to retirement, disability, or unforeseen circumstances. Without a solid plan in place, businesses may face:
Our business succession planning attorneys create tailored solutions that protect your business, minimize tax liabilities, and ensure a seamless transition to the next generation or new ownership.
A properly structured succession plan should address the following:
Who will take over the business when you step down? This could be a family member, business partner, key employee, or an outside buyer. As experienced New Albany business succession planning attorneys, we help business owners navigate these decisions based on business structure, financial goals, and long-term vision.
There are multiple ways to transfer a business, including:
Tax implications can significantly impact the success of a business transfer. We help clients use strategies such as valuation discounts, installment sales, and trust structures to minimize estate and capital gains taxes.
A succession plan is only effective if it is properly documented. Essential legal agreements include:
In New Albany and the surrounding communities, many businesses are family-run. However, succession in family businesses presents unique challenges, such as:
We guide business owners through these considerations, ensuring that business continuity is preserved while also maintaining family harmony.
Not every heir may be interested in continuing the family business. As experienced New Albany business succession lawyers, we help owners establish alternative financial arrangements, such as providing non-business assets to uninterested heirs or structuring buyouts.
The IRS can impose significant estate, gift, and capital gains taxes on business transfers. Our attorneys work with financial professionals to implement tax-efficient strategies that reduce tax burdens for both outgoing owners and successors.
Sudden leadership changes can cause instability. A gradual transition plan—such as mentoring successors or implementing a phased retirement—can help maintain business stability.
We proudly assist business owners in New Albany, Jeffersonville, Clarksville, Floyds Knobs, Corydon, Sellersburg, and surrounding communities. Whether you’re a small business owner, a family business operator, or a corporate executive, we can develop a succession plan tailored to your needs. Call our office today at 812-944-8005 to schedule a consultation with our experienced business succession planning team.
It’s never too early to plan. Ideally, succession planning should begin at least five years before a planned transition to allow for training, tax planning, and legal structuring.
Without a succession plan, your business may face costly legal disputes, tax penalties, or even dissolution. Indiana’s default succession laws may not align with your wishes.
Yes. A well-crafted estate plan should include business succession provisions to ensure your business assets are distributed according to your wishes.
A buy-sell agreement is a legally binding contract that dictates how ownership shares will be transferred. It prevents unwanted third parties from gaining control and ensures a smooth ownership transition.
As New Albany business succession planning lawyers, we are committed to helping Indiana business owners protect what they’ve built. Whether you need a plan for family business succession, a corporate leadership transition, or an exit strategy, our business succession planning lawyers can help.
Call us today at 812-944-8005 to schedule a consultation and take the first step in securing your business’s future.
