Asset protection is important for both the casual and sophisticated business person. First, it is important to protecting the business itself. Second, it is important to consider the preservation of one’s interest in the business venture and include the same in an estate plan. Third, the owners of the business should be cognizant of the treatment of the interests when an owner, partner, or member leaves the business.
We advise our clients that necessary provisions be included in operating documents or separate agreements such as buy-sell or cross purchase agreements. Our firm crafts documents that are mindful of each client’s need to prevent third parties from acquiring ownership interest in the entity (spouse through divorce, family members through estate inheritance). Moreover, by guiding the smooth transition in control and ownership we can provide a method of funding the buy-out of a withdrawing or deceased owner’s interest and avoid disputes. Independent mechanisms for valuation and determination of rights can facilitate such events.
In the area of interest preservation, our knowledge of estate planning is essential. Whether accomplished by sophisticated trust agreements or simple outright distribution plans, we assist in putting into place various vehicles to protect personal assets and business interests in the event of disability, incapacity, and death.
In that regard, our work has included:
Entity Formation and Structure
Dissolution and Workouts
Member Estate Plans