Succession Planning & Exit Strategies

Many of our corporate attorneys have served as general counsel at privately-held, equity-backed and public corporations. We leverage this experience to effectively counsel both established and emerging businesses as they grow.

The Importance of Advanced Planning

Succession planning and exit strategies are too often an overlooked aspect of running a successful business. This is particularly important for privately held businesses and family owned businesses.

At Wilchins Cosentino & Novins, our business attorneys actively participate in the discussions and planning to establish and maintain a succession plan and exit strategy well in advance of implementation. This includes early planning and preparing the business to best legally position the business for a future sale to a third party or a planned succession and transfer of the business to family members or others. Such planning whether early or late stage planning may include overall legal diligence regarding the business and its operations and review of the governance, management, and control of the business; thereafter developing and implementing plans and taking actions as needed to best position the business for an exit event or to implement a succession plan.

A Collaborative Approach for a Comprehensive Plan

Another key aspect of succession planning and exit planning is the business owner’s trust and estate planning. Our business attorneys work seamlessly with our trust and estate attorneys in business succession and exit planning both from the business and estate planning perspectives.