Business Planning Services

Entity formation, maintenance, and winding up

Starting, operating, or terminating a business is an exciting endeavor but can also be confusing and overwhelming. We act as a legal counselor for clients, providing them with information, resources, and the support they need for their business. Since we are also planners, we endeavor to build estate planning and exit planning into every business plan. We also use the best technology, and have organized processes to make entity selection, formation, operation, and dissolution convenient and our services valuable to our clients.

From selecting the right type of entity from a tax liability protection perspective, to understanding how the business will operate as efficiently as possible, our team crafts customized governing documents for business entities and guides owners through the full life cycle of a business.

Our firm does not offer entity formation as a stand-alone legal service. Instead we offer various packages such as our Business Start-Up Plan to give our business clients a holistic and comprehensive plan for launching or growing their business to the next level. In addition to entity selection and planning, our business packages also include evaluation of contracts, leases, waivers, confidentiality agreements, intellectual property considerations, and other important planning for a business owners.

Business Protection and Succession Planning

Most business owners are really good at their craft and running their business operations, but many become overwhelmed by the legal aspects of running their business or are worried that their business documentation has become out of date or is not adequately protecting them against liability. Many business owners also start to think about preparing for an eventual transition or sale and realize that they need to get their legal house in order for their business. We work with our business owner clients to evaluate and implement their legal business risks, objectives, and succession plans. The first step is usually a detailed Business Strategy Session, followed by creation and implementation of a detailed Ownership and Succession Plan.

For businesses that have multiple owners, or who are bringing in a partner or a successor, we work with the client’s team of advisors (CPA, Financial Advisor, Insurance or Risk Management Advisor and other financial consultants) to evaluate and assist in deciding upon the best way to structure an expansion or exit plan. This will often include gifting or selling ownership percentages, implementing a buy-sell agreement and other legal document to ensure the company and its owners are protected. Many business owners start this process informally when they identify a new partner or successor and make a “promise” of ownership or future interest in the company. The earlier we are involved to determine tax efficiencies and legal structures - and before too many promises are made - the better.

Business Purchase and Sale transactions

The purchase and sale of a business can be one of the most significant financial transactions of a business owner’s life. In a business purchase and sale transaction, an attorney plays a crucial role in ensuring a smooth and fair deal for their client. They are instrumental at various stages of the process, from reviewing and drafting legal documents to conducting due diligence. The attorney's primary responsibility is to protect their client's interests by conducting a thorough examination of the business and its assets, uncovering any potential liabilities or legal issues. They negotiate and draft the terms of the purchase agreement, including representations and warranties, indemnification clauses, and allocation of risks. Throughout the transaction, the attorney ensures compliance with relevant laws and regulations, addresses any legal obstacles, and guides their client through complex legal procedures. Ultimately, an attorney's expertise and guidance are invaluable in structuring and executing a business purchase or sale, reassuring their client of a successful and legally secure transaction.

Ensuring a smooth transaction means having legal counsel involved as soon as possible to guide the negotiation of the letter of intent and deal terms, as well as the scope of due diligence matters, as soon as possible. Doing so will almost always take less time and make the transaction go more smoothly (and perhaps counterintuitively, it will cost less in legal fees). All of our purchase and sale representation is on a flat-fee basis and includes representation from start to finish of the transaction, so our business clients do not need to worry about fees every time there is an additional document, set of revisions, or conference call.

We will also create a roadmap for the transaction right from the beginning so that our business clients know what to expect. Partnering with our clients on their business purchases and sales is one of the most gratifying areas of our practice because it is such an important life transition that we get to be a part of.

PROFESSIONAL Practice Planning

For certain professionals, including mental health professionals and lawyers, it is crucial - and part of their ethical obligations to their clients - to have a plan in place in the event of their incapacity or death. A professional will addresses who will take over their practice, notify or take care of their clients, and how that transition will occur. A professional will supplements a comprehensive business plan to ensure the continuity of a professional practice and that clients or patients are properly cared for during the transition process.

A professional will is different than a Last Will and Testament (which provides for the disposition of an individual’s assets). A professional provides a roadmap for ensuring the protection and transition of patients or clients in a manner that complies with ethical requirements such as patient or client confidentiality by another licensed professional. This is a critical planning tool for any professional practice. Other important tools in a professional practice includes the identification of capable licensed professionals or consultants to step-in to assist with unexpected circumstances, as well as establishing processes and procedures to make it as seamless as possible for those individuals to carry out their duties.

MANAGED SERVICES (aka Maintenance Plans)

Our firm provides managed services for our clients' ongoing trust administration and entity compliance needs. Managed services are "maintenance plans" that allow clients to outsource legal work to our firm, allowing them to stay in compliance on focus on their business or administration of an ongoing trust. By coupling proactive services on a regular basis with fixed-fee agreements, we provide peace of mind and time savings for busy business owners and trustees.