Your business was built by years of hard work and long hours, and it's probably one of your most valuable assets. An asset that you will want to be in control of how it is transferred and to whom.
Selecting the right successor may be easy for some, but not so easy for others. Sometimes the logical choice is to sell the business outright, while other times a business is a legacy that a business owner wants to pass down to a trusted family member or valuable employee. Each candidate's strengths and weaknesses will need to be evaluated. On the other hand, partners who don't need a successor may simply sell their portion of the business to their partners through a buy-sell agreement.
I have over 25 years of experience practicing business law, and I am admitted to practice before the state and federal courts, and the United States Tax Court. If you have any questions please feel free to email me.