Family Business Succession Planning
From its inception, DKB was built on both its representation of individuals and partners in closely held businesses as well as its support of the individual economic interests of corporate executives and professionals in private practice. The firm was founded in 1964 as a two-person law firm specializing in areas of practice where tax consequences were dominant considerations. Among these practice areas were family business succession planning, estate and tax planning, and probate all of which remain a cornerstone of the firm’s practice over half a century later.
The attorneys at DKB pride themselves on the relationships they’ve built with family and closely help businesses in the Racine and Kenosha community and understand the challenges these organizations face when it comes to writing the next chapter.
Thoughtful succession planning is not only critical to the longevity and health of the businesses our clients have worked hard to build, but it also maximizes opportunities and creates a multi-generational institution that embodies the values and mission of the original owners for generations to come. It typically requires consideration of the timing, structure, and ownership interest of the business being passed down.
In addition to planning for the future of the business, the attorney at DKB provide guidance on how to avoid family conflicts and providing for fair inheritances while minimizing the tax consequences.
Contact us if you have any questions about how DKB can help you with your Estate Planning and Family and Closely Held Business Succession Planning.