Pleasanton, California, Business Valuation Lawyer

Business Succession Planning and Valuation With an Attorney and CPA

Business succession planning encompasses the transition of management and ownership of your business, and the tax implications of such transition. It is paramount that your business succession plan be crafted with your goals in mind.

San Francisco succession planning attorney and tax lawyer Connie Yi

At the Law Offices of Connie Yi, P.C., you can rely on the experience, knowledge and skill of a licensed attorney and certified public accountant (CPA) with experience working for a Big Four public accounting firm. With legal and financial advice based on this level of experience, you can have confidence knowing that any business succession plan created will focus on how to achieve your goals for your business in the most cost-effective and tax-efficient manner.

I am Pleasanton, California, business valuation attorney and estate planning lawyer Connie Yi. I can answer all of your questions about business succession, estate planning and tax planning — whether you are a small business owner, family business owner, individual with significant or any other person in the Bay Area concerned about estate planning.

Business succession plans can vary significantly depending on the objectives of the owners and many other factors. However, my business estate planning services typically involve:

  • Creating a limited liability company (LLC) or limited liability partnership (LLP) to hold all family businesses and other business or property interests
  • Determining the value of the business, an important step of transferring ownership interest of your business or property
  • Establishing guidelines for transferring assets — How soon do you want to retire? Do you wish to retain some rights after you transfer ownership? As an experienced business succession planning lawyer and tax advisor, I know what questions are important to ensure your plan meets your needs and minimizes tax consequences, whether that means transferring all business interests at once or gifting fractional interests over a number of years.

Helping Bay Area clients ensure a smooth transition

You can attempt to plan when you will retire. But, serious illness or death can leave other business owners, employees and family members in disarray if a plan is not in place for the succession of the business. In cases of family businesses or family properties, significant conflict can ensue between family members who do not agree on the continuation or disposition of the business. Proper planning now can ensure the successful transition and longevity of your family business (or businesses).

I have the estate planning, tax law and business law experience and skills necessary to properly create a business entity to hold family assets, compile a thorough business valuation and assist you in determining appropriate percentages to transfer (and over how long of a period) in order to minimize the tax consequences of such asset transfers.

Contact me at one of my four Bay Area office locations to discuss your legal concerns and learn how I can put my years of experience to work for your benefit.