Continue Success With A Succession Plan
One of the essential parts of a business’s long-term prosperity is to have a succession plan in place. If your business does not have a succession plan, and you die unexpectedly, your enterprise will have to make an unplanned transfer of both ownership and leadership. This will take an extended amount of time and money to work out, which can raise cash flow issues. Instead of being a family legacy, your heirs may have to liquidate the company.
Keep Your Business Performing
Many small to medium-sized family businesses experience lower performance and may have to eventually close down because of the lack of a plan. When you put a plan in place to name a successor and handle taxes, you contribute to the ongoing success of the business. At Laputka, Bayless, Ecker & Cohn, PC, we are experienced at crafting business succession plans with your situation and goals in mind.
Make Sound Decisions
One of the great things about proactively planning for succession is that you have the liberty to put thought into your decisions, consulting with professionals such as an attorney and an accountant. Perhaps you want to plan your retirement and execute a buy-sell agreement. Maybe you are interested in recapitalization but do not know where to start. We can help you sell the business or have a family member take control. You can also consider a variety of approaches to mitigate taxes.
Start Planning With Us Today
Call Laputka, Bayless, Ecker & Cohn, PC, at 570-861-5905 today or contact us online to schedule an initial consultation. We can discuss the elements of a Pennsylvania succession plan and various options to consider.