NJ business succession planning Attorney

Business succession planning

the difference between security and uncertainty

As a business owner you probably already know that starting up a company is no easy feat, and keeping it running smoothly can take a lot of time, money, and energy. Although it may be hard to think about in the midst of operating a business, you should take some time to look ahead to business succession planning. Many business owners overlook this topic, but having a business succession plan in place can mean the difference between keeping your business legacy going and losing what you’ve worked so hard to build. If you are a business owner in New Jersey, meet with our attorneys at Morgan Legal Group PC. We can break down the process of business succession planning for you and create the best plan for you and your business.
Best Lawyers Logo
Avvo Logo
Best Lawyers Logo
Family Law Logo

Get the help you need with a business succession planning attorney

Making sure a business is operating as it should be is an all-absorbing enterprise. It doesn’t matter if you’re the CEO of a multinational corporation or the owner of a small local business, running a company demands time and energy. This is one of the reasons why hiring a qualified business succession planning attorney is in your best interest. For many business owners, bringing their work to a halt in order to sift through accounts, policies, insurance, etc. is just not feasible. However, at Morgan Legal Group PC, we can save you the trouble and take care of planning for the future of your business.
Our attorneys are among the best when it comes to business succession planning. We’ll guide you through selecting a competent successor as well as draft a specific, transparent plan to avoid any conflicts among beneficiaries. Moreover, our attorneys will use the best financial strategies available to protect your assets and employees from penalties or interference.
Across New Jersey, Morgan Legal Group PC has helped numerous business owners establish strong business succession plans for a smooth transition of ownership or management.

“Our Law Firm has the highest wins ratio percentage among all other New Jersey legal practices”

Morgan Legal Group

PRACTICE AREAS

WILLS AND TRUSTS ATTORNEY IN NYC

WILLS AND TRUSTS

WILLS AND TRUSTS

It is never too early to make out a will. The thought of dying is not one that most people wish to dwell on....
Read More
MEDICAID PLANNING ATTORNEY IN NYC

MEDICAID PLANNING

MEDICAID PLANNING

For many people, thinking about long-term care is a topic that is often put off as long as possible. However, in doing so, they are setting....
Read More
ASSET PROTECTION ATTORNEY IN NYC

ASSET PROTECTION

ASSET PROTECTION

You work hard in life, and you accumulate specific assets as a result. Perhaps you have a home...
Read More
PROBATE ATTORNEY IN NYC

PROBATE

PROBATE

If you need an attorney to help you with probate issues during difficult times of grief in New York City, Morgan Law Group PC can help you...
Read More
ICON ESTATE PLANNING ATTORNEY IN NYC

ESTATE PLANNING

ESTATE PLANNING

Mortality is a grim but stubborn fact of human life. You cannot live forever, and it is important...
Read More
ICON BUSINESS SUCCESSION PLANNING ATTORNEY IN NYC

BUSINESS PLANNING

BUSINESS PLANNING

You pour your life into starting, growing and managing your business. As you work hard to keep your business driving in the right direction, it can be easy to lose sight of the long term...
Read More
ELDER LAW ATTORNEY IN NYC

ELDER LAW

ELDER LAW

With the population of the United States consisting of more and more older adults, it’s important...
Read More
ICON GUARDIANSHIP ATTORNEY IN NYC

GUARDIANSHIP

GUARDIANSHIP

Guardianship is a serious matter. When you ask the court for rule over another person, you are mostly taking on the challenge of overseeing their life...
Read More
Justia LOGO

important things you should know

Questions And Answers

Even with a new owner or leader already selected, there are a few key points that you should consider as this decision affects not only you, but everyone else in your company as well. Here are some issues that you should look over even if you have a specific individual in mind for taking over your business:

  • You wish to appoint a loved one or family member to take over your company, but will this decision impact your business partners or managers? What if they oppose your choice?
  • You have decided to sell your portion of the business to its co-owners, but how will your former shares be allocated and what effect will this have on your family?
  • You are considering a new entrepreneur to take over the business, but will your employees’ jobs and benefits be protected under new leadership?
Succession planning aims to help you establish a solid plan for the future success of your business. You are in control of setting the terms for your business’ long-term goals, and as such, no changes or adjustments are made to your current framework without your consent.
An experienced attorney will take the time to get to know you and your business, and most importantly, learn about your vision and goals for the future. Using the information you provide, your attorney will create a business succession plan that is suited to meet your needs as well as the needs of your company.
Morgan Legal Group PC has helped business owners all across New Jersey establish solid business succession plans that have allowed for them to make problem-free ownership or management transitions. Our expert attorneys will ensure that you and your business, no matter how large or small, have a successful future set in place.
At Morgan Legal Group PC, we take your time and resources into consideration and work to make our services affordable for you. Together we can create a budget that will help us deliver a quality business succession plan without causing financial difficulties for you. In any case, you’ll find that a solid business succession plan and the peace of mind that comes with it are invaluable.

Morgan Legal group

Choosing a successor might not be enough

Some business owners forego drafting a business succession plan because they have already selected an individual they trust to take over their business. However, even with a competent, reliable person to take command, there are several key issues that need to be planned out before the transition of ownership takes place. Neglecting to address the following points could negatively affect your business in the future:

  • Who will comprise your new management team?
  • How will major decisions be approved?
  • How will junior employees be affected?
  • What implications may arise from tax or revenue sharing?
It doesn’t matter if your business is made up of a handful of people or if you oversee thousands of employees. Any new change in ownership or management can cause confusion and disturbance across your company. Make sure you leave a solid plan that covers every aspect of your business.

Consider the future

For business owners, every day brings new challenges that require time and focused attention. However, you shouldn’t let day to day business operations keep you from considering your long-term goals and vision for your company. Lay a stable foundation for the future success of your business through a business succession plan. A solid plan can mean the difference between security and uncertainty for your company, employees, and customers. Choose security and get in touch with a business succession planning attorney as soon as you can.
It doesn’t matter if your business is made up of a handful of people or if you oversee thousands of employees. Any new change in ownership or management can cause confusion and disturbance across your company. Make sure you leave a solid plan that covers every aspect of your business.

SAFE & SECURE

24/7 SUPPORT

FAST RESPONSE

Morgan legal Group

Quick Contact