When I talk with business owners about succession planning, one of the most commonly overlooked tools is life insurance. Business succession isn’t just about retirement, it’s also about preparing for unexpected events that can disrupt ownership and business operations. The sudden loss of a partner or key shareholder can lead to disputes and financial instability…. Read more »
Selling a business as part of a succession plan requires careful preparation to make sure there is a smooth transition and maximize its value. Whether the sale is to a business partner, family member, or third party, proper planning can help avoid legal complications and certain tax issues. Ohio law provides guidelines for business succession,… Read more »
Running a non-profit organization in Ohio requires careful planning. Part of proper planning includes preparing for leadership transitions. A strong succession plan makes sure that the organization continues to fulfill its mission even when key leaders step down. Without a well-structured plan, a non-profit may face legal, financial, and operational challenges that could disrupt services… Read more »
Planning for management succession is one of the most important steps a business owner can take to ensure the long-term success of their company. In Ohio, effective succession planning not only preserves the value of your business but also aligns with the state’s fiduciary duty standards. Ohio’s fiduciary duty standards require fairness, transparency, and accountability… Read more »
When planning for the future of your business and estate, buy-sell agreements play a critical role. These agreements are legally binding contracts that outline how ownership interests in a business are transferred in the event of death, disability, retirement, or other triggering events. Without a well-drafted buy-sell agreement, disputes among co-owners, family members, or heirs… Read more »
Planning for the future of your business is an important process that you shouldn’t neglect. Business owners in Ohio often invest years of hard work and dedication into building their companies. However, many forget to consider what will happen when they’re no longer at the helm. Whether due to retirement, unexpected illness, or other circumstances,… Read more »
Business succession planning is an important step for any business owner who wants to ensure the longevity and continued success of their company beyond their involvement. Whether you are planning to retire, pass the business to a family member, or sell the business to a third party, you should have a business success plan. An… Read more »
As an experienced Ohio business succession lawyer, I know there is no substitute for advance planning in preparing for the future of your business. Business succession planning ensures the continued success and stability of your enterprise when you are no longer at the helm. Ohio statutes provide a framework for this process, and navigating these… Read more »
As an Ohio high-net-worth estate lawyer, I understand the complexities that come with managing substantial assets. Effective estate planning is essential to ensure that your wealth is preserved, enhanced, and ultimately passed on according to your wishes with minimal legal hurdles and tax implications. Here are several advanced estate planning strategies tailored for individuals with… Read more »
As an Ohio estate planning attorney, I understand the importance of careful inheritance planning to ensure your legacy lives on as you intend. Many of you have spent years building assets and creating wealth that you wish to pass down to your loved ones or charitable organizations. Here, I will discuss how to structure your… Read more »