Succession Planning

Succession planning for business owners is an important step in ensuring your years of work and wealth are preserved and protected for your beneficiaries.  Succession planning always incorporates an estate plan, most importantly a revocable living trust, which integrates a plan to protect both your company and your heirs.  Absent a succession plan, the business risks litigation, disputes, tax consequences, and even dissolution.

Tools for Business Succession Planning

  • Buy-Sell Agreements which control the transfer of ownership upon death, incapacity, disability, or retirement. 
  • Nevada Limited Liability Companies protect business assets and help manage the business.  
  • Revocable Living Trusts, Irrevocable Trusts like Nevada Asset Protection Trusts, Offshore Trusts, and Dynasty Trusts with the purpose of avoiding probate and reducing or eliminate federal estate taxes while reducing federal income taxes.  
  • Financial mechanisms to fund the buy-sell agreements like insurance, secured assets, business assets, and future cash flow from operations.

 

Succession Planning for Family Businesses in Nevada

Upon the death, incapacity or retirement of a partner in closely held company many challenges exist, while planning eliminates or reduces the following:  

  • Enables current leadership to continue to help the right family members. 
  • Provides distributions to all heirs including passive beneficiaries.  
  • Prevents being forced to sale the business.  
  • Integrates all facets of planning such as incorporation business planning with estate and asset protection planning.

 

Why Choose David Bindrup Law Firm

  • With almost 2 decades of CPA experience, we integrate taxation with estate planning and business succession planning.  
  • Whenever possible we try and charge a flat fee, so our work is transparent, and you know the exact price and the exact scope of services.  
  • Local and national experience dealing with business and tax laws.  

Locations

Henderson Office

10424 S. Eastern Ave., Ste. 101
Henderson, NV 89052

Las Vegas Office

9030 W. Cheyenne Ave., Ste. 210
Las Vegas, NV 89129

Pahrump Office

1321 S. Hwy 160, Ste. 8A
Pahrump, NV 89048

Phone

702.465.0888

Contact Us