Business Succession Planning


Effective succession planning requires more than a leak-proof legal strategy. Developing a comprehensive plan demands the careful balancing of the ambitions, goals and apprehensions 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