Business Succession Planning Attorneys

Lawyers for Transferring Ownership of a Business

Owning and operating a family business can be extremely rewarding. At the same time, it is challenging. Successful business owners are very involved in the daily operations of the company, but they must also keep sight of the long-term plans for the company. Poor planning is one of the most common reasons that closely-held businesses often struggle when passed on to second and third generations. Business succession planning is also important for partnerships and other companies that could face uncertainty if an owner is unable or unwilling to continue his or her current role. At Rolewick & Gutzke, P.C. our experienced business attorneys assist business owners and their families as they look to protect the future of their investments.

The Importance of Business Succession Planning

Business succession planning is a crucial aspect of continuing profitability for a commercial venture. The process of succession planning is similar in many ways to personal estate planning, and for business owners, the two are generally intertwined. Proper planning requires an individual to carefully consider his or her objectives for the future on both a personal and professional basis. At our law firm, we place a high priority on building long-standing relationships with our clients, which affords us the insight to make suggestions and offer advice for protecting their interests.

Trusted Counsel for Business Owners

Most owners of family businesses hope to pass their companies on to future generations at some point in time. It is important, however, to create a definitive plan that facilitates the transition to prevent uncertainty and to reduce tension between family members and partners. A plan, for example, could begin shifting responsibilities to a chosen successor over time, with controlling interests to follow based on performance.

The attorneys at Rolewick & Gutzke, P.C. also help business owners and partners create succession plans for partnerships and corporations. If one shareholder or partner becomes unable or unwilling to continue in the business, the stability of the company could be threatened. We can help develop succession plans that cover the possibility of a divorce, mental or physical incapacity, personal bankruptcy, or the death of an owner. Depending on our clients' needs and those of their company, the plan may include buyout provisions, transfers of ownership interests, or even the controlled dissolution and restructuring of the company.

Call 630-653-1577 for a Consultation

If you are ready to take steps toward protecting the future of your business, contact our office. Call Rolewick & Gutzke, P.C. at 630-653-1577 and schedule a free 30-minute consultation with a member of our team today. Our experienced business planning attorneys represent clients in Wheaton, Naperville, Warrenville, Glen Ellyn, Carol Stream, Geneva, St. Charles, and Downers Grove.