Family Business

Have you been looking forward to the day you can retire, perhaps turn your business over to a son or daughter, or sell it? Even if you are not planning to stop working, you need to plan for the day you cannot run your business due to unforeseen illness or death. Most business owners do not take the time to plan for how they will leave their business. They are busy running the company, or they don't know where to start. But if you continue to own a business until you die, it will be included in your estate and could be subject to substantial estate taxes. Your family could be forced to sell the business or its assets at 'fire sale' prices.

For most family businesses, transitioning the business to the next generation is one of the toughest and most critical challenges they face. Robert Z. Bohan, Attorney & Counsellor at Law has experience counseling family businesses in all aspects, including:

  • Business formation and choice of entity
  • Corporate governance
  • Annual meetings and minutes
  • Succession planning