Family Business & Succession Planning

Hodgson Russ assists closely held and family businesses at all stages of growth, development, and succession. We focus our efforts on maintaining stability and unity among family members to assure the ongoing vitality of the family as well as the continued viability of the enterprise. Our attorneys work with families to develop succession strategies, manage the execution of the plan, and devise methods to address the unique challenges affecting family-owned businesses.

Our approach to family businesses and succession planning includes identifying the most efficient means to transfer ownership, ascertaining appropriate successors, and determining the optimal timing of the transition. Tax and estate planning strategies are reviewed and assessed to minimize the income and estate tax consequences of the transfer. Legal services often include advice about regulatory compliance, compensation and equity incentives for family owners and non-family employees, disability and retirement planning, and dispute resolution.

Our Experience

• Business counseling
• Company structures
• Compensation and benefits for non-family employees
• Compensation and equity incentives for family owners
• Disability and retirement planning
• Dispute resolution
• Interfamily/owner relations and governance
• Leadership transition and succession
• Minority shareholders
• Non-active family members
• Regulatory compliance
• Sale of business interests to family members, non-family members, and employees
• Shareholder agreements
• Shareholder liquidity

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