Business Succession

Successful entrepreneurs often share a few defining traits: they step outside their comfort zones, take calculated risks, and remain focused on building their businesses. That mindset helps them capitalize on opportunities and navigate challenges, but it can also delay planning for what comes next.

Entrepreneurs and owners of family businesses often wait too long to define a clear vision for succession. Once that vision is established, a succession plan can be developed to align stakeholders and provide the legal, tax, and management framework needed to support long-term success.

Like estate planning, succession planning is an ongoing process rather than a single event. As goals and circumstances evolve, so should the plan. Dickinson Wright provides comprehensive succession planning for high-net-worth entrepreneurs, family businesses, executives of private and public companies, and principals of private equity firms.

Our lawyers take the time to understand each client’s goals and develop strategies that protect both the business and the wealth it creates. We help clients minimize exposure to creditor claims, federal gift and estate taxes, management and family conflicts, and other unintended consequences.

Today’s federal gift and estate tax landscape presents a significant opportunity to transfer closely held businesses and wealth to the next generation. Because tax laws and policy priorities change, thoughtful planning today can create greater certainty for tomorrow.

Our Team

Our Business Succession team brings together corporate, tax, and trust and estate attorneys to provide integrated counsel on business planning, wealth transfer, and estate planning. Working collaboratively, we help clients achieve their business objectives while managing legal, tax, and operational risks.

Our Services

Working closely with business owners, CPAs, wealth advisors, and other trusted professionals, we develop personalized strategies to build, protect, manage, and transfer wealth. Our services include: