Minnesota Business Succession Lawyers
Planning for the future of one's business is as important as making a will or establishing a trust. At the St. Paul law firm of Rodney J. Mason, Ltd., the attorneys advise clients about their options when planning for a time when the business will be managed by another.
Attorney Rodney J. Mason has more than 30 years of legal experience and understands the legal challenges involved in developing business succession plans. He also knows that relationships can be strained by issues arising from the future of the family business. He has an awareness of family dynamics — an awareness he has shared with his legal colleagues in continuing legal education sessions in Minnesota.
Issues related to planning for the future of a closely held business can have tax implications. The firm consults with accountants and tax specialists to ensure that the business is well-positioned for the future after a change in leadership occurs.
Examples of Business Succession Matters
The firm has handled a wide variety of cases related to the inheritance of family businesses. These include challenging issues such as:
- One sibling working in the family business, expecting to inherit, while other siblings contend that the business has been plundered by the brother or sister
- Non-family employees seeking control of a business
- Taxes threatening to destroy a business upon the death of the owner
- Heirs declining to operate the business they inherited
The firm's attorneys urge clients to begin business succession planning early so issues can be sorted out and business owners can relinquish control in an orderly way, to ensure that business operations continue uninterrupted.
Sensitive to Clients' Financial Concerns
The firm's goal when assisting with business succession planning is to avoid litigation and accompanying costs. Very few small businesses can bear the high costs of resolving disputes in court. The attorneys at Rodney J. Mason, Ltd. are sensitive to this concern and work to minimize the financial impact of a management or ownership transition. Whether inheriting the business is governed by probate law or is part of a trust, the firm's lawyers help clients make plans that work.
Contact Us
To learn more about business succession planning and inheritance, contact Rodney J. Mason, Ltd. The firm's attorneys serve clients in the Minneapolis-St. Paul area and beyond. Call 651-323-2548 or 877-389-5533 (toll free) to set up an appointment. Spanish- and German-speaking clients are encouraged to call.
