Running a successful business requires keeping your eyes on the future as well as the present. When planning for your company’s future, you should consider creating a Business Succession plan. Not only can these plans prepare for your eventual retirement, but they can also provide emergency instructions in case of your sudden injury, illness, or death.
A Georgia Business Succession lawyer at our firm can help you create these important documents. Our seasoned attorneys at Nelson Elder Care Law can assist you with identifying your business assets, helping you make decisions concerning the future, and drafting tools that give those plans full legal effect.
Many people do not realize that a person’s business assets are part of their Estate. If you pass away without a Will or your Will does not mention your business holdings, these assets may pass to heirs through the Intestacy statute. According to the Official Code of Georgia § 53-2-1, this distribution depends on whether you have a surviving spouse, children, or both.
One purpose of having a Business Succession plan is to avoid this outcome. A Business Succession plan can function in much the same way as a Will to dictate how you want your company assets to be divided upon your eventual death. At the same time, these documents can provide instructions for the sale or winding down of a company. Our Business Succession attorneys in Georgia can help you better understand how these plans interact with the Probate process and their role in effective Estate Planning.
One goal of a Business Succession plan is to make provisions for your eventual death. Because these plans can function in much the same way as Wills, they can serve to retain control during the Probate process.
However, you can also create Business Succession plan as a way to transfer control prior to your passing, such as when you eventually retire. Having these plans in place can ensure a smooth transition to new leadership or the sale of the company.
You can also create a Business Succession plan in order to be prepared for an unforeseen circumstance. Accidents, illnesses, and injuries can all jeopardize your ability to remain in control of a company. Our Georgia lawyers at Nelson Elder Care Law can help you create a Business Succession plan that includes provisions for what will happen should you be unable to perform your duties due to an illness or accident.
The future of your company depends upon the steps that you take while in a leadership position. This may involve creating a Business Succession plan that takes into consideration your company’s future after you are no longer in control.
Our dedicated team at Nelson Elder Care Law can help you create these plans. Our skilled attorneys can help with identifying your personal stake in a company, choosing heirs to take control after your death or retirement, and making provisions for what will happen should a sudden illness or injury leaves you unable to maintain a leadership position. Contact a Georgia Business Succession lawyer at our firm today to learn more.
I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.
The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!
Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.
Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!
I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!