Family Business: Where Business Law and Estate Planning Meet

Owning and running your own business with your family’s help and involvement can be a very worthwhile activity. It can be a bit stressful, too, of course but many families that have worked together to build something will tell you that it is all worth it. So when you are thinking about how you can protect your business and your family, talk to a Grand Junction estate planning lawyer.

There are many legal aspects that need to be carefully considered in a family business. Who will succeed you when you are ready to retire? What if you are seriously injured or killed in an accident? How do you ensure your family is cared for if your business partner is not a family member? Will taxes kill the business when it is given to an heir?

Find Answers with the Help of a Grand Junction Business Succession Attorney

A business succession attorney that is well-versed in estate planning and business law may be able to help you make the plans necessary to protect the future of your business and your family’s well-being in connection to that business. Farmers, ranchers and other commonly family run enterprises need sound and trustworthy legal advice and backup. Business succession can be a far more complicated issue than some may realize. There is much to be sorted out in the areas of ownership, management and taxes. Some of your children may not have the necessary skills or interest to effectively take over the business. A spouse that is not a blood-relation to your children may need special consideration. If the business is to be sold upon your passing, legal plans need to be drawn up to specify the division of any assets or profit plus the selling price among your heirs. All of this can be done with the help of a knowledgeable legal professional.

At the James A. Littlepage Law Offices we understand the unique needs of small business owners in Grand Junction and surrounding communities. We provide our clients with a step by step, personalized plan which takes into account the goals for the future of their business as well as the needs of their family. Putting a thoughtful, well-crafted plan in place that clearly provides for the business, employees, partners and family is what makes for a smooth transition when the time comes.

Contact a Grand Junction business succession lawyer at our firm by scheduling a free initial consultation. Make sure your business and the ones you love are well-cared for.