Business Succession and Estate Planning for Business Owners
We advise Pittsburgh business owners on business succession planning and
estate planning designed to protect ownership interests, reduce disruption,
and prevent disputes when an owner exits a business due to retirement, sale, disability, or death.
Our work focuses on closely held businesses, family owned companies, and multi owner enterprises
where business governance intersects with estate planning, trusts, real estate ownership,
and long term family objectives.
What Is Business Succession Planning?
Business succession planning addresses what happens to a company when an owner leaves.
This may occur due to retirement, sale, incapacity, divorce, or death.
Without proper planning, ownership transitions often lead to valuation disputes,
management deadlock, litigation, or forced liquidation.
Aligning Business Agreements with Estate Plans
We coordinate operating agreements, shareholder agreements,
and buy sell provisions with wills, trusts, and powers of attorney.
This alignment helps ensure ownership transfers occur as intended and prevents estate plans
from conflicting with business governance documents.
Buy Sell Agreements and Owner Exit Planning
Buy sell agreements govern how ownership interests are valued and transferred upon
triggering events such as death, disability, retirement, or voluntary sale.
We draft and review buy sell structures that address funding, valuation methodology,
transfer restrictions, and dispute resolution.
Planning for Death and Disability of an Owner
When an owner becomes incapacitated or passes away, unclear authority can halt operations.
We structure succession plans that support continuity, authorize decision makers,
and protect remaining owners and family members from unnecessary conflict.
Do I need a business succession plan if I already have a will?
Yes. A will alone does not control how business interests are managed or transferred.
Succession planning coordinates estate documents with business agreements to reduce conflict
and operational disruption.
What happens if there is no buy sell agreement?
Without a buy sell agreement, ownership transfers are often governed by default law.
This can result in unintended owners, valuation disputes, or litigation between family members
and remaining owners.
Can succession planning reduce estate or inheritance tax exposure?
Proper structuring can support tax efficient transfers, valuation discounts, and liquidity planning.
Succession planning is coordinated with broader estate strategies where appropriate.
Still have questions? Contact our business succession planning attorneys.