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Estate and Business Succession Planning

While estate planning is a complex undertaking for anyone, it poses special challenges for business owners. Passing a business from one generation to the next, owners are not simply bequeathing assets and wealth, they are handing over the reins of a livelihood to a new generation of owners. Business owners naturally want to ensure their heirs are positioned for success.

Ensuring a Successful Business Succession

At Wiczer Sheldon & Jacobs LLC, in Northbrook, we are trusted legal allies for business owners.  We combine our deep knowledge of business law and estate planning to help business owners achieve their business succession goals.

Crucial elements of a business succession often include:

  • Transferring real estate, equipment, customer lists, intellectual property and other business assets among owners and family members
  • Establishing a management structure
  • Establishing a framework for resolving potential disputes among owners and family members
  • Tax planning and estate planning to maximize tax benefits and savings

We can help you through this process by establishing wills, trusts, powers of attorney and other estate planning documents, but this is only the beginning of the process. The estate planning instruments must work in harmony with the overarching goal of setting up your beneficiaries for success in business. Because we practice extensively in both of these areas, we have the experience, knowledge and resources to achieve as seamless of a transition as possible.

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