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Business Succession Planning

Carmel Business Formation and Succession Planning Attorney

Business Formation

Determining the best structure to benefit your business organization can be crucial. The type of business you form will determine how the business income is taxed and whether there is protection against personal liability. Some components to consider include the type of business, number of employees/individuals participating in the business, profitability of the business, and insurance coverage. Our lawyers can provide information about different structures, such as listed below, and assist you in evaluating each form to attain your business goals and objectives.

Some form of business entities are:

  • Sole Proprietorship
  • General Partnership (limited)
  • Limited Partnership
  • Limited Liability Partnership (LLP)
  • Partnership or LLC involving one or more corporations
  • C (C Corporation S Chapter)Corporation
  • Professional Corporation
  • Not for Profit Corporation
  • Farm Corporation
  • Limited Liability Company (LLC)
  • Joint Venture.

Business Formation and Succession Planning

Part of a comprehensive business plan is determining what is to become of your business in the event of your death, incapacity, retirement, or sale. By establishing detailed business succession plans, it is possible to preserve the integrity of your business for family or key employees, even if you are not a part of the business’s future.

Our lawyers and staff at the law firm of Knowles & Associates P.C. in Carmel, Indiana, have been combining estate planning with business formation and succession planning to individual and business clients since our establishment. We are aggressive advocates for our business clients because we have seen many businesses fail to continue into the next generation for lack of  sufficient or adequate succession planning.

Whether you are planning to pass the business on to a child or key employee, we are able to advise you on your options for transferring the business or business assets. Our firm is also able to draft buy/sell agreements and other contracts that may need to be created, reviewed, and signed throughout the course of planning for your business. We also provide legal guidance with respect to the use or acquisition of life insurance and/or disability buy-out insurance to provide the funds to make the business succession plan work!

Your business is important to us, as it is to you. Our team can utilize our experience and knowledge of business matters to advise you on the best way in which to preserve your business and/or assure the prospective future purchases of its actual acquisition.

Contact an Indiana Business Formation and Succession Planning attorney at the office of Knowles & Associates P.C. today. During your initial consultation, you can discuss your specific needs with an experienced member of our firm. Also, we are able to arrange flexible appointment times andlocationsfor clients.

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