Estate Planning For Owners Of Family Businesses And Farms
You have nurtured your successful family enterprise and cherished the opportunity to work together. You want to protect what you have created and likely want to see it continue to thrive after being passed on to the next generation.
At Palmer Lehman Sandberg, PLLC, our estate planning and business law attorneys counsel many owners, partners and stakeholders in family-owned businesses in the Dallas area and North Texas, including family farms and ranches. We provide comprehensive services ranging from completing entity selection and business transactions to the drafting of wills, business succession planning and estate administration.
Get The Counsel You Need For Sound Business Continuity Planning
We serve and represent family-run businesses across many industries, from technology and service providers to agriculture and energy production. Many of our clients have been so busy working and attending to the administrative side of their businesses that they have not created or updated their estate plans to account for the business.
We can make certain that your operation is organized under the optimal business entity. For example, a sole proprietorship or partnership might be best converted to a corporation or limited liability company (LLC) to reduce tax and liability exposure, or for strategic reasons related to investment and growth.
Our lawyers provide customized services in business law, estate planning and business succession planning to reflect the unique needs of individual clients. For example, when the time comes to pass ownership on to your children, we can revise the operating agreement or shareholder agreement accordingly for a seamless transition. It may also be beneficial for the farm or business to pass through a family limited partnership or other continuity vehicle.
Preserving Family Wealth And Keeping The Dream Alive
We help business owners and farmers protect their investments and enjoy the fruits of their labor, and we help families clarify roles and manage transitions. Our goals include mitigating estate tax ramifications and effectively addressing any barriers to smooth and efficient estate administration.