Business Succession Planning
Those who own an interest in an active business must concern themselves with the eventual disposition of their ownership interest. The business itself, including all owners, must plan for the impact that any disposition of an ownership interest will have as the business moves forward.
Our business succession planning attorneys help business owners develop plans that consider the best options for the owner whose interest is being transferred, for the remaining business owners, and for the business itself.
Our business succession strategies are designed to provide financial security for the transferring owner and his or her family. Our attorneys create business succession plans that will:
• Minimize tax consequences
• Generate liquidity
• Promote continuity of business management and operations following a change in ownership
• Generate business succession planning benefits for all those affected during a business interest transfer
Our business succession strategies include:
• Buy-sell agreements with funding mechanisms
• Deferred compensation plans
• Life insurance planning
• Recapitalization of the business’ equity structure
• Employee Stock Ownership Plans (ESOPs)
• Lifetime gifts and/or sales of business interests
Birmingham Angel Network
Business owners and entrepreneurs may find investment opportunities or startup capital through the resources available with The Birmingham Angel Network, LLC (“BAN”), Birmingham’s first formal angel network. BAN consists of a group of executives, professionals and accredited investors who are interested in investing their time and money into new, cutting edge, startup companies. Many BAN members have founded and operate some of the leading companies in our area.