When it comes to business law, today’s businesses are often confronted with issues such as appropriate choice of entity, employment matters, state and federal filings and real estate considerations. At Parks & Jones, we assist businesses in a variety of ways; from implementing the founder’s vision of the business to the orderly succession of ownership.
The first step to building a successful business is formation of the proper entity. At Parks & Jones, we can help ensure the first step is a step in the right direction. The choice of what entity to use for your business should be made with careful consideration to many factors including, but not necessarily limited to taxes (federal, state and local), number of partners, potential liability, nature of the business, and many other factors. Our experience in business law allows us to identify potential issues prior to them arising, allowing you to have plans in place to minimize their negative effects.
Business succession planning ensures survival and growth of the business, preserves family harmony, minimizes taxes, keeps the business in the “right” hands, and facilitates retirement. It is vital for any business to have proper safeguards in place which provide the owner/partner a proper exit strategy (in the event of sale, retirement or death) to ensure the business continues to thrive. Proper succession planning can make certain the owner/partner or his or her family is properly compensated for the owner’s/partner’s contributions to the business without putting major constraints on the ongoing success of the business.
In any business succession plan there are many competing interests at stake. Balancing the goals of the owners, the buyers or transferees, and the business can be difficult. It is important to have an unbiased party help manage these competing interests while ensuring everyone is fairly compensated throughout the process. A variety of options are available to provide viable solutions in most cases.
Contact us to schedule a FREE consultation to see what type of business law planning is right for you and your business.
Parks & Jones, Attorneys at Law is a full service Estate Planning and Elder Law practice that provides comprehensive planning in the areas of wills, trusts, powers of attorney, probate and trust administration, probate avoidance planning, revocable trusts, Elder Law, long-term care planning, nursing home care, wealth protection, Veterans Benefits, special needs trusts, business law and business succession, charitable planning, and estate tax planning. Parks & Jones, Attorneys at Law serves clients and their families all throughout Springfield, MO and the surrounding areas of Branson and the Ozarks.
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