Succession Planning For Closely Held Corporations

Seder & Chandler, LLP, devotes a significant amount of attention and firm resources to helping business clients develop comprehensive succession plans.

Small companies are usually guided by one or two key people. It is wise for these individuals to consider their possibility of eventual departure or retirement from the company. If the proper succession plan has not been developed, the business might suffer devastating consequences. Our firm will work with you to ensure the proper mechanisms are in place, which promote the growth and sustainability of your company after you leave.

Succession planning for small businesses and limited liability companies can be a challenge. Our skill in identifying obstacles and developing corporate mechanisms ensures a smooth transition and allows our clients to rest easy.

Often, our succession plans also contain provisions for insurance to account for unexpected death or debilitating illness of a business owner. Our attorneys are skilled at addressing succession strategies, such as shareholder and executive employment agreements, to avoid an interruption in corporate governance. Issues such as non-compete and non-solicitation agreements must be included to prevent key employees from leaving to go to a competitor. We guide our business clients through these contingencies and develop a comprehensive business plan that addresses needs and concerns.

With questions regarding succession planning or any other aspect of business law, we encourage you to contact a lawyer at Seder & Chandler, LLP, in central Massachusetts and the MetroWest Boston area.