Business Succession Planning/Estate Planning

Wegman, Hessler & Vanderburg has long history of guiding business owners and executives through the difficult areas of succession planning and other transitional issues.  In a closely held business, particularly one involving family members or others with long term relationships, retirement and the transfer of ownership are areas where the trusted advisors of Wegman, Hessler & Vanderburg can help.  In addition to ensuring that the transition provides a comfortable retirement for the owner, our strategies address the ongoing operation of the business. We have helped numerous business owners develop management structures, long term incentives, tax programs and other contractual arrangements which help assure the ongoing success of their business and the fulfillment of its responsibilities to the stakeholders.

Our successful succession planning strategy treats succession planning as a process rather than an event.  Advanced preparation, thoughtful analysis and ongoing monitoring of the plan as it is implemented is a key differentiation between our method of planning and counseling our clients versus other traditional approaches.

Our process includes the creation of:

  • Shareholder agreements.
  • Buy-sell agreements.
  • Insurance programs.
  • Executive compensation programs.
  • Retention agreements.
  • Strategies to minimize income taxes.

Multigenerational business planning requires prudent legal and tax planning techniques combined with an appreciation of the human dynamics involved in intra family matters.  Our clients have come to rely upon the attorneys at Wegman, Hessler & Vanderburg to help them make prudent business, financial and personal decisions.