A PROFESSIONAL CORPORATION
Making a Difference. One Client at a Time.
Phone Consultations Available During
Coronavirus Restrictions. The Courts are open
and we are working remotely.
23041 Mill Creek Drive
Laguna Hills, CA 92653
Phone: (949) 855-9250
Fax: (949 ) 380 - 1128
email: gbeck@beck-christian.com
Laguna Hills
Business Succession Lawyers
Contact a Business Succession
Lawyer
Contact Beck & Christian at (949) 855-9250 to
make an appointment for a consultation. We will
thoroughly review your business and personal
finances and provide experienced advice to
help you determine the most advantageous
strategies to ensure the successive transfer of
familial wealth.
Business Succession FAQ | Beck
& Christian, APC
1. What is a Business Succession
Plan?
A Business Succession Plan is an Estate
Planning Tool that’s designed to determine
how a business, generally a family business or
closely held business, will be operated or
dissolved upon the incapacitation or death of
the founder.
2. Why do I need a Business
Succession Plan?
There are numerous, highly complex issues
that may arise upon the death or incapacitation
of the individual in charge of running and
operating a business. Business Succession
Plans serve to minimize costly litigation by
designating who and how a business will be
run once the individual in charge is no longer
able to carry out his or her duties. A
comprehensive Business Succession Plan
should also include how the business pays
state and federal taxes, and under which
circumstances the business should ultimately
be dissolved.
3. What should my Business
Succession Plan include?
Business Succession Plans should set forth
detailed information ranging from who should
take over daily operations on either a
temporary or permanent basis, to how the
business and/or individuals will be taxed based
upon the type of entity formed. Additionally, a
comprehensive Business Succession Plan
should also include detailed instructions for
dissolving the business and strategies for
conflict resolution between feuding parties of
interest.
4. Can I draw up my own Business
Succession Plan?
Due to the complex nature of both Estate
Planning and Taxation, we highly advise
against trying to draft your own Business
Succession Plan. A skilled lawyer from Beck &
Christian will meet with you to obtain an in-
depth understanding of your company,
determine the issues most relevant to your
situation, and ascertain areas of potential
conflict. Based on this information, we will
devise a Succession Plan focused on
protecting every aspect of your business in
case of incapacity or death.
5. When should I have a Business
Succession Plan drafted?
Failure to institute a comprehensive, well-
drafted plan that clearly outlines exactly who
will be in charge of managing various aspects
of the business and how the company will
either continue to be run or dissolved virtually
guarantees that litigation will occur. Therefore,
it is important to have an enforceable Business
Succession Plan in place as soon as your
company is up and running.
6. How can a Business Succession
Plan protect my company from
litigation?
Business Succession Plans are created to set
forth a path for your company to continue
normal operating procedures under the most
stressful of circumstances. A highly detailed
Succession Plan can prevent litigation by
clearly outlining who will be in charge of
business management, how any management
or directorial transitions shall be carried out,
and how conflicts between interested parties
are to be resolved. Without these procedures
in place, families and business partners who
are at odds with one another are more likely to
end up litigating their issues in court.
Beck & Christian – Laguna Hills
Business Succession Attorneys
At Beck & Christian, we’ve been helping
families pass on their interests through
Business Succession Estate Planning for 35
years. Our clients are secure in the knowledge
that the businesses they’ve worked so hard to
build and grow will continue to remain within
the family upon retirement, incapacitation or
death.
Our seasoned lawyers can help you create a
Buy / Sell Agreement, create a charitable trust
for taxation purposes, gift your ownership
interest to family members, implement tax
strategies that will maximize the retention of
business assets with minimal tax liability, and
help you create a comprehensive will or trust to
address these issues.
If you have an ownership interest in a
business, it is vital that you plan for the future
by implementing a business succession plan.
Failure to do so could result in the loss of the
business and division within the family. Let our
lawyers put their business, estate and tax
planning experience to work for you!
The Laguna Hills Law Firm Beck & Christian
has been providing experienced legal counsel
to business clients in and around Laguna Hills
for more than 35 years by helping them create
and establish business succession strategies
in case of retirement, incapacitation or death.
Expert Tax and Estate Planning Attorneys
and highly experienced Business Law
Lawyers, Beck & Christian strive to help you
meet your goals by ensuring a smooth
transition of ownership
through comprehensive
Business Succession
Planning, while keeping an
eye towards maximizing the
retention of wealth and
minimizing tax liability.
Some law firms are extremely
large, and they boast about
this. However, at Beck & Christian we
understand the basic doctrine that our clients
need lawyers who return calls, maintain close
contact, and know the value of establishing a
long-term attorney-client relationship. We treat
our clients’ matters as we would our own – with
professionalism and courtesy.
If you are seeking intelligent and skilled
Advanced Estate Planning advice, contact
Laguna Hills Estate Planning & Business
Succession Attorneys Beck & Christian at
(949) 855-9250 to make an appointment for a
consultation. Our attorneys are fully prepared
to go the extra mile for our clients, and make a
conscientious effort to always exceed
expectations.