Business Succession Planning
Entrepreneurs and family business owners face daunting questions when management of their company passes from one generation to the next. Who among the next generation will govern the enterprise? How will the family be supported by the business in the future? How will vital institutional knowledge be preserved as control is passed along?
Kleinberg Kaplan approaches succession planning with sensitivity and discretion, governed by a thorough grounding in the complex dynamics of the client’s family and business. Our knowledge is demonstrated by long-term representations of multiple generations within a single-family business. We also represent individuals within the larger family structure who are working to maintain and protect their interests in the enterprise.
From complex management arrangements to full divestment, we help our clients understand the relationships and obligations that a succession plan will impose on current owners and future generations alike. We seek to foster dialogue between family members, ease conflict and design solutions that preserve relationships and business value.
Family businesses in multiple industries, including manufacturers, wholesalers, distributors and real estate concerns seek our counsel. We utilize the full repertoire of succession planning tools on their behalf, including shareholder agreements, life insurance planning strategies, family limited partnerships and other governing structures.