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Business Succession Planning

Small businesses are the lifeblood of the American economy. We at Pollio Law Group are committed to helping to preserve these entities for the small business owners who have built them through hard work, dedication, and ingenuity.

Unfortunately, however, while most small business owners expect to hand down their business to future generations, they often do not have an effective Business Succession Plan to facilitate a seamless transition between generations.

We solve this problem by helping small business owners develop an effective Business Succession Plan to preserve their lifetime’s work and permit it to pass on to their family members or others of their choosing.

An effective Business Succession Plan is intertwined and coordinated with a small business owner’s overall Estate Plan. This makes Pollio Law Group uniquely qualified to act as a guide through this critical process. We utilize our expansive knowledge of Estate Planning in order to create a uniquely tailored Business Succession Plan and Estate Plan that is all-encompassing.

Some examples of Business Succession Plan techniques include:

  • Part gift/part sale
  • Utilizing Discount Gifting Techniques
  • Installment sale
  • Seller financing
  • Annual debt forgiveness
  • Bank financing
  • Shareholder agreements
  • Operating agreements
  • Partnership agreements
  • Buy-sell agreements (funded by insurance)
  • Grantor retained annuity trusts (GRATs)
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