Business Succession Planning

Ensuring a Smooth Transition and Lasting Legacy

Business succession planning is crucial to protecting that investment and ensuring a smooth transition when the time comes At Tirey Law Firm, we understand that your business represents years of hard work, dedication, and personal investment. Our experienced team is here to help you navigate the complexities of succession planning, so you can be confident that your business will continue to thrive in the hands of future leadership.

Our Approach


At Tirey Law Firm, we approach business succession planning with a deep understanding of the unique challenges business owners face. We recognize that every business is different, and we tailor our strategies to meet your specific goals and needs. We believe in proactive, thoughtful planning that protects your legacy and supports the continued success of your business.

Legal Documentation

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Contingency Planning

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Develop backup plans to handle unexpected events, like the sudden illness or death of the owner, ensuring the business can continue running smoothly without interruption.

Prepare and review essential legal documents, such as buy-sell agreements, shareholder agreements, and trusts.

Succession Strategy

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Tailored succession strategy that outlines the process for transitioning ownership and management.

Financial and Tax Implications

Provide expert guidance on the financial and tax aspects of succession planning, including valuation of the business, funding the transition, and minimizing tax liabilities for you and your successors.

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What We Offer

Frequently Asked Questions

  • When should I start planning for business succession?

    It’s never too early to start planning for succession. Ideally, succession planning should begin several years before you plan to step down, allowing time to identify and prepare a successor, as well as address any potential challenges.

  • What if I don’t have a clear successor in mind?

    If you don’t have a clear successor, we can help you explore options, such as grooming a key employee, considering external candidates, or preparing the business for sale. Our goal is to find the best solution for your business and personal goals.



  • How does business succession planning affect taxes?

    Succession planning can have significant tax implications, particularly in terms of estate taxes, capital gains, and income taxes. We work with you to develop strategies that minimize tax liabilities and ensure a smooth financial transition.

  • How often should a business succession plan be reviewed?

    We recommend reviewing your succession plan regularly, especially if there are changes in your business, family dynamics, or tax laws. Regular updates help ensure that your plan remains relevant and effective over time.

Request a business succession planning consultation with us

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