Our Approach

For many successful entrepreneurs, contemplating a future in which they are no longer at the helm of their enterprises can be both challenging and deeply personal. However, sophisticated and timely business succession planning is essential for facilitating a seamless transition, safeguarding the continuity of the business, and optimizing its long-term value for both the entrepreneur and their family.

At Harrison LLP, we leverage our extensive experience to guide clients through the intricate dynamics present at every stage of business ownership, understanding that this process demands not only technical proficiency but also a nuanced appreciation for legacy, family dynamics, and evolving personal ambitions. Comprehensive business succession planning is a cornerstone of our broader approach to estate and wealth preservation.

Our multidisciplinary team serves as trusted advisors, adept at steering clients through the landscape of domestic and international regulatory considerations, as well as the unique complexities presented by substantial closely held enterprises. This process often necessitates bespoke solutions tailored to protect family harmony and business legacy across generations, utilizing an array of advanced strategies, including:

• Shareholders’ Agreements governing buy-outs at death, disability, or retirement.
• Creation of non-voting interests to facilitate gifting and succession to the next generation.
• Trusts to put control of the business into the right hands while permitting the sharing of the income and growth of the business.
• Compensation packages for retiring and incoming management employees.
• Income, gift, and estate tax saving strategies for a sale of the business or the transfer to the next generation.