Succession Planning And Inheritance Disputes With Family-Owned Businesses
Keeping a business in the family is an admirable goal but fraught with potential pitfalls. With smart planning, you can avoid family disputes and protect the family business from creditors, lawsuits and excess taxation.
The estate planning attorneys of Solomon Dwiggins Freer & Steadman can help you arrange for an orderly succession of your family enterprise in Nevada with minimal problems. We also represent heirs or the estate in probate litigation over generational transfer of family-owned businesses.
Family Business Succession
We assist small and family-owned businesses with implementing succession plans, including:
- Reorganizing as a limited liability company (LLC) or family limited partnership (FLP)
- Buy-sell clauses
- Deciding which heirs will receive what shares of the business
- Who will manage or co-manage the operation
- Timing of succession (during the owner’s lifetime or upon death)
- Tax implications and other considerations
- Updating wills and powers of attorney
We aim to anticipate conflicts and plan accordingly to ensure that the enterprise stays viable through the transition.
Representation In Succession Disputes
If you did not have the benefit of proper planning, you may be embroiled in a dispute relating to transfer of a family business. We have represented all sides in these conflicts:
- Disappointed beneficiaries who believe they were deprived of their inheritance
- Siblings vying for control of the business after the owner’s passing
- Buyout of an heir who wants to cash their share of the business
- Defending the business entity against heirship or creditor claims
Our attorneys have experience finding a way forward in these emotionally charged matters. We will faithfully protect your interests in or out of court.
We Can Help You Keep The Legacy Going
To discuss family business succession strategies tailored to your enterprise and your family dynamics, contact the Las Vegas law office of Solomon Dwiggins Freer & Steadman. Call 702-997-7714 or 800-671-9908 or contact us online.