Business Succession Planning

Where Estate Planning and Business Law Meet

If you own a family business and you're nearing retirement, you have important decisions to make regarding the future of your business and the future of your family.

• Does a family member want to take the reins of the closely held family business? Is he or she prepared to lead?
• Do you want someone outside the family to lead the company? What is the best way to transfer management or ownership? Are there partnership opportunities?
• How has the business benefited your family overall? How do you want it to benefit them in the future?

At the Chickasha, Oklahoma law office of Frailey, Chaffin, Cordell, Perryman, Sterkel, McCalla & Brown LLP, our business law attorneys can help you answer these and other questions about business succession planning. Our firm has more than 100 years of experience in both business law and estate planning. We can help you think through the complex issues involved in business succession planning.

Contact us to schedule a free consultation.

Understanding Your Options

We work with owners of family businesses of all kinds, including family farms and ranches. Many of the laws and tax issues that arise in business succession planning will be the same, regardless of the type of business you have. However, agricultural law and succession planning for farming and ranching are unique.

The most significant challenge you may face with family business, ranch or farm estate planning is the tax consequence. We will work with you to identify strategies to transfer valuable property without having to sell part of the farm to pay the estate tax. There are a variety of ways to do so, such as:

• Limited liability companies
• Trusts
• Irrevocable life insurance trusts

Ask your estate planning lawyer at Frailey, Chaffin, Cordell, Perryman, Sterkel, McCalla & Brown LLP about asset protection plans to guard your family legacy across the generations.

Contact Us Today for Prompt and Effective Legal Guidance