Business Succession

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Protecting what matters

Business succession involves the strategies employed for passing leadership or ownership interests once the current owners and managers have left, and what that leaving looks like so the company can continue without interruption. From our experience of having formed hundreds of legal entities including LLCs, corporations, partnerships, and non-profits, rarely do business owners address the issue of succession. Sometimes family members are interested, and sometimes not. Often businesses are owned by unrelated partners, which can make the issue of succession even more important. Some of the tools that assist in creating a succession plan include: specialized provisions in the Operating Agreement or Bylaws, and a Buy-Sell Agreement. Call us for a consultation today.



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Frequently Asked Questions

Let’s face it — you have questions.

Are estate planning fees tax deductible in North Carolina?

No. The Tax Cuts and Jobs Act ended estate planning expense deductibility as an itemized deduction in 2018 but will expire at the end of 2025. Ask your tax professional.

Serving Wilmington, North Carolina
And Beyond