In the life of any enduring business, a challenging issue eventually emerges: Who will take over the company when the current owners or managers exit?
Churchill, Quinn, Richtman and Hamilton is highly regarded in succession planning matters and can help businesses prepare for transitions in leadership. Our attorneys will aid clients in identifying and assessing all possible scenarios. For example, the company founder may wish to pass the business to a younger generation, or alternately, sell it to an outside party. A principal owner may wish to retire from the business. A business owner may die or become disabled. All of these circumstances necessitate careful planning and present complex choices to the parties involved.
Our attorneys provide creative alternatives for mapping comprehensive succession planning strategies, both at the inception of a business and later in its life. Our practice group drafts shareholder agreements, buy-sell agreements, operating agreements, stock option agreements, and life insurance agreements. In addition, we handle voting trusts, preferred stock arrangements, voting and non-voting stock, and tax planning matters.