Estate Planning When Your Business Is Family-Owned
When you and your family have worked hard to create a business, your successful business plan is just beginning. It is essential to look ahead for the succession of the company and the ongoing business accomplishments that will significantly affect your estate planning and transition plans.
At Doehring & Doehring, we have the business-minded estate planning knowledge to help you plan for the future. We can advise and implement the legal plans and documents your family needs to have a smooth transition and be provided for in the future.
Succession Planning For Family Businesses
You may have thought about the future of your company, but depending on the size and complexity of your business, it can take several years to develop and implement an effective plan. We can help clients identify and prepare successors. We also can help oversee any eventual sales or liquidations, communications and approvals from relevant parties. Your legal needs and plans may change based on the trusts and stock you hold within the company. If you are a small business, with assets under a certain amount, you may have specific small estate affidavits that can apply.
Addressing Liquidity And Life Insurance Needs
Our team of attorneys can work with clients who are highly illiquid. This can have a tremendous impact on your family and being able to provide for them when estate tax is owed. We can help you plan early to reduce estate tax liability. To avoid a forced sale of the business or facing creditors, we will work with you on the best way forward — often looking at life insurance as an excellent option for clients.
We Can Help You Plan For The Future
Questions? Review our frequently asked estate planning questions or contact us today for estate planning tools tailored to your Houston family-owned business. We serve clients in Texas and surrounding cities to help them accomplish their goals.
For family-owned business and estate planning lawyers, you have the right match at Doehring & Doehring. Prospective clients can schedule a free consultation to discuss their options by calling 866-456-2361 or with our simple online form.