Business Succession Planning
Business succession planning is a critical consideration for all owners of privately held companies. Pabian & Russell, LLC attorneys provide a well-rounded suite of services that assist private business owners with the transition of their businesses to new ownership. With recognized experience in business law, taxation and estate planning, we develop plans for all types of transitions related to retirement, management changes, liquidity and other planned or unplanned events, including death and disability. We work with clients to maximize, preserve and protect the value of businesses through proactive preparation for the ultimate sale or generational transition.
Our team calls upon deeply rooted legal, tax and financial skills to educate owners and executives about the most effective business succession planning strategies available. Pabian & Russell, LLC clients trust our attorneys to carefully assess attractiveness and readiness for succession planning and subsequently develop appropriate plans for undertaking important changes. Our experience covers virtually every type of succession planning strategy including opportunities to identify strategic buyers as well as to implement generational transfers, ESOPs, third-party sales, and third-party management buyouts. With thoughtful attention to the delicate nature of these scenarios, our attorneys are experienced guides for people navigating the often difficult decisions related to their business transitions.
Our succession planning team is uniquely positioned to help business owners. Our managing partner, Jay Pabian, is a Certified Exit Planning Advisor and has completed a rigorous certification program (CEPA*.) As a Certified Exit Planning Advisor, he is exceptionally qualified to identify, protect, build, and manage the growth and transition of a business. We are proud of our highly collaborative style that successfully utilizes a full range of advisory team expertise including wealth managers, financial planners, accountants, management consultants, investment brokers, tax advisors, M&A advisors, commercial lenders, and other business coaches and advisors.
Our team helps clients:
- Facilitate a realistic valuation of their businesses for accurate and proactive planning.
- Identify the strengths and weaknesses of their businesses in order to develop best practices to increase profitability and enhance value.
- Analyze threats to their businesses as a result of uncontrollable events such as death, disability, and economic cycles.
- Develop strategies to de-risk their businesses.
- Conduct exit planning readiness assessments and retirement satisfaction evaluations.
- Facilitate conversations to define appropriate methods for business transitions.
- Create master plans that transition businesses while preserving and protecting important legacies and assets.
- Identify the best-suited exit planning processes that accomplish business goals on appropriate timetables.
- Prepare and negotiate business succession documentation and other critical written communication.
- Collaborate with CPAs to develop tax planning initiatives that minimize and/or defer taxes.
- Confirm compliance with all legal requirements related to transitioning business assets.
*The Exit Planning Institute is the most widely accepted professional exit planning program in the world and has a Certified Exit Planning Advisor (CEPA) program.
Practice Area Specialists