Business Succession & Estate Planning
Indianapolis, Indiana, Business Succession Attorney - Personalized Legal Services for the Business Community
At Ittenbach Johnson Koeller & Abrams, we provide personal, professional legal services to prepare estates and businesses for the future. Estate planning attorney Robert M. Koeller has years of experience helping business clients with everything from forming a business to passing it on to a successor.
To set up an appointment, contact Ittenbach Johnson Koeller & Abrams today.
Passing Your Business on into the Future
A successful business succession plan needs a plan to transfer ownership and a plan to transfer management:
- Transferring Ownership: If you wish to keep the business in your family, you must have planned how you will support yourself in your retirement (whether through savings or by selling the business to your successor), and that you undertake careful tax planning to ensure that taxes don't force the business under. If you don't wish to keep the business in the family, then you must work to find someone willing to pay a fair price for it.
- Transferring Management: This can be even more difficult, as it is often hard to find a successor with the zeal for running the business that was shared among the original founder(s). Aging upper management staff must carefully train their subordinates to be ready to take over, otherwise the business may falter even after a successful transfer of ownership.
Our business succession services have led us to providing more general estate planning services. We will gladly help any client with the drafting of wills and trusts, power of attorney, and health care directives, as well as charitable planning and, when necessary, the administration of estates.
For more information, or to set up an initial consultation with an Indiana business succession attorney at Ittenbach Johnson Koeller & Abrams, contact our law offices today.
