Oklahoma City Succession Planning Lawyer
Ylla | Gosney Attorneys at Law represents family businesses in Oklahoma City. Planning how your business is going to be handed down to the next generation is an emotional process, and our law firm is here to help you develop a succession plan that properly balances the interests of the business and your family as it makes this transition.
Our firm is here to design a successful succession plan by anticipating potential risks and concerns before they arise. We work with owners, executives, advisors, accountants, and investment bankers on your behalf to achieve the best results while a transfer of ownership is made.
Contact us today and schedule a free consultation.
How Ylla | Gosney Helps with Succession Planning
Our team of Succession Planning Lawyers is here to help owners in Oklahoma City transfer ownership and management. Our goal is to ensure continuity of your business while minimizing taxes and legal risks during an ownership change. Our firm will perform the following succession planning processes on your behalf:
- Drafting Documents: Creating buy-sell agreements, trust agreements, and corporate bylaws for leadership changes.
- Tax Mitigation: Advising on strategies to minimize federal estate and gift taxes, which can be crucial for business survival.
- Estate Plan Integration: Coordinating business interests with personal estate planning to protect assets.
- Management Succession: Assisting in identifying, grooming, or hiring new leadership.
- Dispute Resolution: Managing family disputes and shareholder deadlocks.
When to Consult with a Succession Planning Attorney at Ylla | Gosney:
- Planning for retirement, selling the business, or in the event of death/incapacity.
- If you have partners and need to ensure a smooth buyout.
- When navigating family dynamics and determining which heirs will run the business versus inheriting non-voting interests.
The Purpose of Having a Succession Plan
When you own a business, you have options. You can sell it outright or dissolve the company and sell off the assets. However, if you want to retain some connection to the business or if you want to pass the business on to family members, you have the option to put a plan in place. And that’s where Ylla | Gosney can help. Our firm believes it is Important to have a succession plan, so you have:
- Time to train your replacement
- Time for your clients to adjust to new leadership
- Time to settle competing interests within your organization and/or family
- Insurance in case you are suddenly unable to carry out your duties
As part of your overall retirement program, an attorney at Ylla | Gosney Attorneys at Law can design a succession timeline that allows you to transfer responsibilities and ownership over time and to remain as active in retirement as you wish. If your plan requires the sale of business assets, our firm can help you through the necessary legal procedures.
Contact Ylla | Gosney Oklahoma Succession Planning Lawyers
Whether you’re launching a new business or preparing to transition out of one, it’s important to have a plan of succession in place. At Ylla | Gosney, we can help protect your business transition seamlessly to its next phase by avoiding liability issues and protecting its assets through the whole process.
We understand how hard you’ve worked to build both your family and your company, which is why we’re dedicated to making sure they are taken care of going forward. Contact us today for a no-cost, no-obligation consultation to see what options are available for your situation.