Starting a business can be a thrilling, yet confusing, undertaking. The attorneys at Tomac & Tomac have the experience and know-how to cut through the confusion and assist new business owners in developing a comprehensive plan that helps accomplish their strategic goals. Our attorneys assist clients at all stages of the business process including formation, maintaining corporate formalities and compliance.
Limited liability company (LLC) formation
Partnership formation (including LLP)
We also consult with business owners and draft shareholder agreements or partnership agreements as part of the entity formation process.
Just as a well-drafted estate plan is vital to an individual, a comprehensive business succession plan is equally vital to a small business owner. A sudden death, illness, disability, or retirement of a key person within a business can have catastrophic effects on operations if the business lacks a comprehensive succession plan. An attorney experienced in business succession planning can work with owners, shareholders, members and key personnel to implement a successful succession plan that transitions ownership and/or control to the next generation while accomplishing a myriad of goals, including:
Maintaining Control within a family or group of key individuals
Preserving value while transferring control
Incorporating Business planning with a successful individual estate plan
Maintaining sufficient cash flow to buy out a deceased owner’s share
Creating family employment opportunities
The attorneys at Tomac & Tomac have significant experience working with business owners in creating succession plans that allow owners to transfer business ownership and operations to the next generation while preserving the value and vitality of their organizations.