You worked hard building a business and understandably want to plan for its future upon your retirement, incapacitation or death. The Law Office of Jeffrey A. Attia, PA guides you through the process of business planning. We assist with directives that protect your financial assets, should you become incapacitated, and utilize a variety of estate planning instruments that appropriately transfer assets and leadership roles in the event of your passing.
We work with business owners throughout the Fort Myers region on this important aspect of estate planning. When the case is probated, we work closely with the principals of the business and family members to ensure the wishes of our clients are properly executed.
Power of Attorney in Business Planning
A power of attorney may be useful in the case of a small business with a limited hierarchical structure. A power of attorney is a legal document that transfers decision-making authority to another person or multiple individuals. A power of attorney may be permanent or temporary and may cover a number of medical and financial interests. Furthermore, you may have separate powers of attorney for each of your individual needs. Whereas a member of your family might be named a power of attorney for health care decisions and personal finances, you may have a separate power of attorney for your business interests. Through this document, you can assign a specific person to manage day-to-day tasks to keep your business running, such as signing vendor orders and paying routine bills.
Business Succession Planning
Business succession is the process by which you plan for the operations of your business after you relinquish your title or pass away. Your approach to a planned exit is different than that of an unexpected death or incapacitation. If retiring, you have the opportunity to make thoughtful decisions based upon the facts at the time of your exit. However, succession through estate planning involves a high degree of forethought and oftentimes creating complex instruments that can accommodate unexpected circumstances.
Our law firm asks the right questions to help you form a solid business succession plan and we then draft the necessary documents to smoothly transfer assets, debts and leadership. Through our extensive planning process, we help you build a lasting legacy. In addition, we help you protect your family’s ongoing interests in the company.
Consult With Our Fort Myers Estate Planning Attorney to Learn About Estate Planning Tools for Business Succession and Asset Transfer
Are you a business owner? Do not neglect to include a solid business plan in your estate planning process. The Law Office of Jeffrey A. Attia can guide you through issues involving leadership succession, transfer of assets and protection of your family’s interests. Schedule a consultation with our Fort Myers estate planning attorney to learn more about your options at 239.919.2318.