Effective succession planning requires more than a leak-proof legal strategy. Developing a comprehensive plan demands the careful balancing of the ambitions, goals and concerns of all the concerned stakeholders. Bowditch & Dewey possesses the experience and sophistication necessary to guide your organization through all aspects of business succession planning, including:

• State and federal income tax minimization
• Shareholder agreements and funding mechanisms for these agreements
• Structuring sales and gifts of business interests
• Employee Stock Ownership Plans (ESOPs)
• Recapitalizations
• Tax-free reorganizations
• Deferred compensation arrangements
• Gift planning for business interests, including valuation discounts
• Voting trusts
• Key man/woman insurance
• Split dollar agreements
• Qualified Family Owned Business Interest estate tax deduction
• Stock redemption to pay estate taxes
• Deferral of estate taxes on closely held businesses
• Special use valuation for farming businesses