SJAFB Logo

PROFESSIONAL LEGAL SERVICES SINCE 1927

Business Succession Planning Banner

No matter what your plans are for the future of your business, eventually you will transition it to someone else. Perhaps to a purchaser, loyal employee, family member, or spouse. Transition is inevitable and unavoidable. Ideally, as the owner, you will be in control of the transition process. However, this is not always possible. Failure to properly plan for the eventual transition of your business can lead to disastrous financial consequences for both the business and your family members.

A business succession plan protects all of the hard work you have put into your business and helps ensure a smooth transition to the next generation of leadership. A succession plan can account for what happens in the event of the retirement, divorce, disability, or death of the owner. Succession planning also contemplates potential tax implications, the transfer of ownership interests, and the long-term vision, goals, and objectives of the business.

There is no one-size-fits-all succession plan. The attorneys at Simpson, Jensen, Abels, Fisher & Bouslog, P.C. are experienced in handling complex business issues. Contact us at at (515) 288-5000 to discuss your case with our firm

Simpson Jensen Abels Fischer & Bouslog Law P.C. blogs, legal updates, and other content are for educational and informational purposes only. This is not legal advice and it does not create an attorney/client relationship between and Simpson Jensen Abels Fischer & Bouslog Law P.C. and readers. Readers should consult an attorney to understand how this content relates to their personal situation and circumstances. You should not use Simpson Jensen Abels Fischer & Bouslog Law P.C. blogs or content as a substitute for legal advice from a licensed attorney.