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Estate Planning

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Secure Your Business Legacy with Our Succession Planning Team

As a successful business owner in Grapevine, you've worked tirelessly to build your company into what it is today. Our experienced business succession planning attorneys understand the unique challenges facing Texas business owners and can help ensure your legacy continues long after you step away.

Securing Your Business Legacy for Tomorrow

As a business owner, you've invested countless hours nurturing your company from its humble beginnings into the thriving enterprise it is today. Every early morning meeting, every difficult decision, and every sacrifice you've made has been driven by your vision of creating something lasting and meaningful. 

But have you considered what happens to your legacy – and the employees who depend on you – when you're ready to step back? Whether your business is a cherished boutique on Historic Main Street or a growing enterprise near Grapevine Mills, protecting your life's work means having a clear plan for its future. The last thing you want is for years of dedication to unravel because of poor transition planning.

“Estate planning isn’t just for the wealthy, it’s for everyone, everyone who wants to protect their family and prepare for the future".”

Statistics on Failed Business Transitions

The numbers tell a sobering story about business succession planning in America. Only 30% of family businesses survive into the second generation, and merely 12% make it to the third generation. 

Among businesses that fail during transition, 60% cite poor planning as the primary reason. Additionally, 47% of business owners over 65 don't have a succession plan in place, putting their legacy at risk.

These statistics underscore the critical importance of working with an experienced succession planning attorney to protect your business's future.

Services:

Family Business Transitions

We help structure smooth transitions that preserve family harmony while ensuring business continuity. Our team can assist with developing fair distribution plans and establishing clear leadership roles for the next generation.

Buy-Sell Agreements

Our attorneys draft comprehensive buy-sell agreements that protect your business interests and establish clear procedures for ownership transitions. We ensure these agreements align with your overall succession strategy.

Transition Planning

We help identify and develop future leaders while creating structured timelines for gradual transition of responsibilities. This ensures stability and confidence among employees, customers, and stakeholders.

Exit Strategy Development

Whether you're planning to sell to outside buyers or transfer ownership internally, we create customized exit strategies that maximize value and minimize disruption to your business operations.

Employee Stock Ownership Plans (ESOPs)

Our team can help evaluate whether an ESOP might be the right succession strategy for your business, providing tax advantages while creating a market for your shares.

“Someone’s sitting in the shade today because someone planted a tree a long time ago.”

Warren Buffet

Frequently Asked Questions:

  • Without a proper succession plan, your business could face legal complications, leadership vacuum, and potential forced sale or liquidation. Your family might lose control of the business, and the company's value could significantly decrease during this period of uncertainty.

  • Family transfers often qualify for various tax advantages under current laws, but require careful structuring to maximize benefits. Third-party sales typically result in immediate capital gains tax but might offer higher sale prices.

  • Review your succession plan annually and update it whenever significant changes occur in your business or family situation. Major triggers include changes in business value, family dynamics, tax laws, key employee departures, or market conditions.