Business Succession

Salt Lake City Business Succession Planning Attorney
Randy M. Lish, Attorney at Law
Local: 801-717-9341 • Toll Free: 866-741-9075 • E-mail
Family Succession Plans • Business Valuation • Asset Preservation

Two-thirds of all businesses are not successfully passed from the first generation to the second, and even fewer make it to the third. It isn't as simple as simply handing over the keys from to your child - without a buy-sell agreement, how will you have money left to support yourself in your retirement?

If you own a business and want to pass it on to your children, you'd better start working on a family succession plan long in advance of that day. I'm Randy M. Lish, a Utah business succession planning attorney, and I can help you make sure that your retirement is secure, and that your business will continue to support your family after you've finished running it. Contact my office today for a free initial consultation , and we can help you:

• Conduct thorough business valuation
• Formulate an exit strategy
• Review existing insurance policies
• Determine a tax liability framework

Planning for Your Retirement

Another common misconception among business owners is that they don't think they need a retirement plan. They often think that they'll be able to sell their business and simply live off the proceeds, or to live off the business itself. Without adequate planning, however, this is not often the case. Who will run the business when you are done? Unless you know who you're going to sell your business to, and unless you know that they're willing to pay the full market value, it's likely that your business won't sell for as much as it's worth.

At my law office, I offer a full range of business planning services. If you are starting to think about the future of your business, I have 20 years of experience helping my clients formulate a comprehensive plan. Contact my office today to set up a free initial consultation.