Areas of Practice

Business Succession Planning

You have worked hard to build your wealth, which often includes a business ownership or interest. Due to the changing federal environment of wealth transfer and succession planning you are naturally concerned with transition of wealth and/or your business interest to the next generation, your management team or other successors. Because we represent numerous family-owned or otherwise closely held businesses throughout Northeast Ohio, including those owned by third-generation family members, we are intimately familiar with the many issues involved in succession and estate planning.

Our seasoned, estate planning & probate attorneys working with our Business Services Group are prepared to discuss your goals and provide you with options to implement them, while being mindful of ways to do so in the most cost-effective, non-public, tax sensitive manner. We advise and assist you in the transition of wealth and business ownership to family members, business partners, trusted employees or others. Our professional, practical solutions approach to your concerns will consider liquidity, sustainability and the human factor outcome of the available options. In doing so, we work closely with your other professional advisors, including accountants, financial planners and insurance professionals.

To protect or ensure the continuity of your assets or business interests should you become incapacitated or to see that your familial, charitable or business succession wishes are complied with after your passing, we can help with:

  • Lifetime financial and incapacity planning
  • Pre-nuptial agreements
  • Transfer of ownership and management control
  • Grantor defective trusts
  • Lifetime gift planning
  • Transition financing issues
  • Tax planning
  • Senior management retirement issues
  • Management buyouts and ESOPs
  • Charitable giving options
  • Promoting values with charitable trusts and foundations
  • Preserving wealth for the future, including grandchildren, with dynasty trusts

Stark & Knoll Co., L.P.A. 3475 Ridgewood Road Akron, Ohio 44333-3163
Phone: 330-376-3300 Fax: 330-376-6237

Stark & Knoll LinkedIn Page Stark & Knoll Twitter Page Stark & Knoll Facebook Page

All Rights Reserved. © Stark & Knoll Co., LPA