Business Succession Planning
The attorneys in Meyer Suozzi’s Wills, Trusts and Estates Department counsel closely-held business owners to facilitate business transitions in a smooth and tax-efficient manner. Our attorneys guide business owners in addressing succession issues such as identifying leadership successors, retaining key employees and navigating family conflicts. Using business succession planning tools such as buy-sell agreements, family limited partnerships, grantor retained annuity trusts (GRATs), grantor retained unitrusts (GRITs), private annuities, self-canceling installment notes, redemptions, recapitalizations and sales to defective grantor trusts, our attorneys minimize estate tax on transfers of a business to the next generation.
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