Succession Planning

At Mayer Law, LLC, we understand that business and farm owners work hard to build successful enterprises. Whether you are looking to transition ownership to family members, sell the business or farm, or plan for the future, we can provide the guidance and expertise you need. We can help with creating a comprehensive plan that addresses tax implications, estate planning, business valuation, and more. Our services include drafting and reviewing buy-sell agreements, creating trusts, creating business entities to facilitate transfers, and developing succession plans that ensure your business or farm is set up for continued success. It is important to plan for the future and ensure that the business or farm can continue to thrive for generations. We have extensive experience in all aspects of business and farm succession planning.

Business Succession Planning:

A well-crafted succession plan can help a business survive and thrive in the face of challenges such as retirement, disability, or the unexpected departure of key personnel. We work closely with business owners to develop a comprehensive plan that takes into account their unique goals and circumstances. We assist business owners with: 

• Identifying potential successors and developing a plan for their training and development.
• Developing a business valuation and determining the most appropriate method for transferring ownership.
• Drafting agreements such as buy-sell agreements, shareholder agreements, and operating agreements.
• Addressing tax issues such as estate tax, gift tax, and capital gains tax.

Farm Succession Planning:

Farm succession planning is crucial to ensure the continued success of family farms and the preservation of farmland for future generations. We assist farm owners with:

• Identifying potential successors and developing a plan for their training and development.
• Drafting agreements such as buy-sell agreements, shareholder agreements, and operating agreements.
• Addressing tax issues such as estate tax, gift tax, and capital gains tax.
• Developing a plan for the transfer of ownership and management control of the farm.

Contact Us: 

At Mayer Law, LLC, we understand the unique challenges and complexities of business and farm succession planning, and we are committed to providing personalized solutions that meet the specific needs of each client. Contact us today to schedule a consultation and learn more about how we can assist you with your succession planning needs.