Family run and closely-held business have unique issues and concerns that necessitate focused and specialized counsel. In addition to the everyday requirements of running a business, family businesses must often navigate delicate family dynamics that only get more complicated as multiple generations become involved.
For more than 120 years, Rackemann, Sawyer & Brewster has represented multiple generations of business owners. We have been involved first hand with countless family business successions and know what works and more importantly, what does not work. We work with business owners to craft succession plans which will mitigate conflict among family members as well as the impact of estate and income taxes at each generation. Our lawyers work closely with each client to understand their unique situation and implement a comprehensive plan to ensure that their family or closely-held business not only thrives during the client’s lifetime, but lives on for future generations. We are integral in preparing a wide range of documents as well as implementing strategies such as buy-sell agreements, insurance planning, membership agreement amendments and asset protection trusts.