INDUSTRY INSIGHT LEGAL INSIGHT
INDUSTRY INSIGHT LEGAL INSIGHT
SPONSORED CONTENT
COVELLI & PISCIONE LAW OFFICES , P . C .
BUSINESS BUYOUTS Planning for Retirement with Small Businesses
In the Second Installment of our “ Small Business Series ” we will focus on Purchases , Sales , and Succession Planning for small businesses . Planning for Retirement can be difficult , but is an important task for Small Business Owners . While it is often difficult for owners to imagine relinquishing control of the business they have worked so tirelessly to establish and grow , the transfer and sale of assets is essential to ensure the legacy of the business . Whether it is your intention to hand-down your business to the next generation , sell to a key employee , dissolve your business and sell off the assets , or sell your entire business to a third-party , you will need the proper documentation in place to achieve those goals .
You will need to make decisions regarding what ( if any ) ownership stake you will retain , what type ( if any ) financing terms you will accept , what assets you may be unwilling to transfer , and what ( if any ) transition period you expect . Before you partner with another Member in your existing business , or before you place your business on the open market to solicit buyers , you will need to ensure that your corporate records are in order , that your financial records are in order , and understand what your governing documents state regarding admission of additional
members , valuation , sale , dissolution , or winding down . The time to make any necessary amendments is before you enter into any agreements to add partners , sell , or otherwise transfer your interests or assets .
Covelli & Piscione Law Offices P . C . can help take the uncertainty out of your succession planning . Whether you are looking to transition in the short term , or the long term , the Team at Covelli & Piscione Law Offices , P . C . can assist you in your strategic planning . With experience in analyzing corporate records , reviewing assets and how they are titled , working with accountants to determine the best process for valuing your interest , and negotiating with potential buyers and / or partners , Covelli & Piscione Law Offices , P . C . handles most aspects of business succession planning-- all while making sure that your wishes are properly addressed in your Estate Planning Documents , in the event of your untimely death .
Make 2024 the year you resolve to get your business affairs in order . With a Free Initial Consultation , Covelli & Piscione Law Offices , P . C . can assist you in identifying and prioritizing the legal components that can help protect , strengthen , and grow your business .
Attorney Natalie Piscione is a member of the National Academy of Elder Law Attorneys , and has been providing Estate Planning and Estate Administration legal services for nine years . The team of Attorneys at Covelli & Piscione Law Offices is experienced in several areas of the Law . For more information , call 412.653.5000 or visit covellilaw . com .
FREE Consultation | Call Today ! 412-653-5000