Family Business Transactions & Succession
Family-owned businesses play a critical role in the economy. Many of the country’s most successful companies have deep family roots and require sound legal counsel to help with fair and reasoned decision-making. MPL Law focuses on family business transactions and succession planning, offering counsel that considers the unique dynamics of a family business and advising on issues including estate planning and business disputes.
Family-owned businesses require dedicated support to grow and navigate changing times, especially during periods of succession. Our team of family business attorneys is here to ensure stability during these transitions, helping your business remain successful and align with your long-term goals, even as the dynamics of your board and executive team evolve. The assistance of a skilled family business law firm can prove invaluable during these periods of change. Discover how our firm’s services can facilitate smoother transitions, contributing to the persistent success of your business.
Common Family Business Legal Needs
Family businesses often require varied types of legal support. From internal disagreements to forward-looking estate and succession planning, unexpected challenges can arise. At times like these, having at hand capable family business lawyers is critical. Our firm will stay focused on the continued strength of your enterprise, no matter the issue at hand. Here are some of the common areas where our expertise can serve you:
Succession Planning for Family Businesses
Planning for the leadership change in a family business requires strategic coordination between outgoing and incoming generations. Our family business law specialist team can provide guidance throughout this complex process by:
- Securing releases of personal guarantees from the generation that’s selling.
- Bridging personal relationships from one generation to the next.
- Decreasing the tax penalties faced by selling generations.
- Optimizing tax opportunities for purchasing generations.
Estate Planning for Family Businesses
As the owner of a family-run business, your financial worth is often closely entangled with the company’s value. We offer expert advice to protect your interest and those of your heirs by creating appropriate strategies, such as buy-sell agreements, trusts, and family-owned foundations. Our aim is to mitigate tax consequences for small business owners. We can also reduce tax consequences for estate matters related to small business ownership.
Family Business Disputes
Inter-family disagreements about how to run a family-owned business can occur. When they do, our dispute lawyers can step in to mediate conflicts, offering an external legal perspective that can prove invaluable due to shared family history and high emotion.
Family Business Ownership and Governance
Governance—the rules for decision-making in a family business—can be a contentious matter among stakeholders. Using our vast experience in dealing with complex ownership situations, our family business attorneys can provide solutions that placate all parties, guiding them through different plans that cater to the most challenging governance complications.
Serving Harrisburg, Philadelphia, Baltimore and All Areas Between
As a reputed family business law firm operating in Pennsylvania, we serve central and southern PA, including Lancaster, Reading, and Harrisburg. We are recognized for our ability to build close relationships with our clients and understanding your objectives to chart the best course of action is our priority. We follow a transparent approach, offering honest legal advice and setting realistic expectations.
Our role is not merely that of family business law advisors but partners who devise, execute, and manage the best legal strategies suited to your family’s business needs. Get in touch with us online today or call us at 717-845-1524 to schedule a consultation.