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Reorganizing Business Lawyer | Oklahoma Business Planning | Tulsa Succession Planning Attorney

Reorganizing your Business; Succession Planning

Reorganization Your Business; Succession Planning

We have seen structures implemented by others which exposed the owners to unintended and avoidable adverse tax consequences and needlessly exposed assets to claims of potential creditors. Also, clients have missed the opportunity to adopt structures which could help minimize estate taxes.  The structure through which you run your business can impact the success of your business.

When should you reorganize your business? In what business structure should you adopt?  Should you adopt a holding company structure? What are the tax consequences when reorganizing? Does your current business structure adequately protect your business assets, and your personal wealth, from business liabilities? Should you consider a reorganization designed to incentivize key employees and perhaps give them the opportunity to earn an ownership interest based upon performance?  There are pros and cons to these equity program which must be carefully considered, and there are alternatives which provide similar incentives?  What about succession planning? Are your children prepared to lead or will you have to adopt a succession plan designed to attract and retain other talent? Perhaps your succession plan is to sell your business as you near retirement. Sometimes the kindest thing you can do for your children is to keep them out of ownership.  Should you reorganize to minimize your estate tax consequences?  Again, there are attractive estate planning opportunities which can be achieved by properly reorganizing your sole proprietorship, limited liability company, corporation, partnership or other business entity.  The estate tax savings can be staggering.

What about succession planning?  Are your children prepared to lead or will you have to adopt a succession plan designed to attract and retain other talent?  Perhaps your succession plan is to sell your business as you near retirement.  sometimes the kindest thing you can do for your children is to keep them out of ownership.

Should you reorganize to minimize your estate tax consequences? Again, there are attractive estate planning opportunities which can be achieved by properly reorganizing your sole proprietorship, limited liability company, corporation, partnership or other business entity.  The estate tax savings can be staggering.  Click here for more details on a higher return on investment with a taxable estate.

In essence, there are various reasons why you may want to consider reorganizing your business.  The process often involves business concerns, as well as family issues.  I am prepared to help you define your objectives, and then help you meet those objectives.

Qualifications:  Gary Maddux, a Martindale-Hubbell “Preeminent” Top 5% Lawyer, has extensive experience as a business attorney and a practicing CPA, in advising clients on the best business structure through which their business should be conducted, or how to plan to transfer their business upon death or retirement planning.  He is prepared to consider the business and legal aspects of your business structure as well as any estate planning opportunities that might exist.

Maddux & Maddux
2642 E. 21 Street, Suite 290
Tulsa, OK 74114
Phone: 918-582-8393
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