Succession Planning
DLBH LLP is proud to represent a large and varied corporate clientele, from the small “mom and pop” company to the larger public company listed on a public stock exchange.And, whether you are selling retail goods, perform consulting services or operate within the oil and gas sector, the one thing that all companies have in common is the business of running a business. Given the current economic demands it is difficult enough to operate a business on a day to day basis - satisfying customers as well as the bottom line - without considering the level of managerial foresight required to ensure lasting, long term success. As a result the business of running a business is often overlooked.
There are a number of case studies to illustrate the manner in which the first generation of a successful organization will gain a stronghold in the market, the second generation will capitalize to build the company into a going concern and the third generation will lose it all.
As a result of such facts of business, certain strategies have been developed to provide for the long term succession of a business, minimizing the risk of losing capital assets to creditors and securing payments of a buyout or retirement income to past owners and shareholders. An “estate freeze” is a prime illustration of the types of tools that exist to provide for such succession planning. Operational or voting control is passed to the second, third and future generations while assets and income can be protected to generate a retirement stream for the original or current generation. Many other tools exist as well; corporate reorganizations and trust planning are just a few. To learn how succession planning can benefit your business, please give one of our solicitors a call to arrange for an appointment at your convenience.