Areas of Practice

Estates, Wealth Transfer & Business Succession Planning

You have worked hard to build your wealth, which often includes a business ownership or interest. We realize business owners have worked hard to build their businesses and are concerned about the future of their business, its transition to future generations or management teams and the tax consequences that may follow. Because we represent numerous family-owned and other closely held businesses, including those owned by third-generation family members, we are intimately familiar with the succession planning, estate planning and corporate issues that family and closely held business owners face.

Our corporate attorneys will work closely with our estate planning and probate attorneys while considering your needs and goals, as well as those of your family and business in order to develop a seamless succession plan. Our lawyers are prepared to discuss your goals and provide you with options to implement them, while doing so in the most cost-effective, non-public, tax sensitive manner possible.

We can advise and assist you in the transition of wealth and business ownership to family members, business partners, trusted employees or others parties. Our professional, practical approach to your concerns will consider liquidity and sustainability as well as the outcome for your family, your business and its employees. We have built relationships with local accountants, bankers, financial planners and insurance planners and will work closely with them to protect and ensure the continuity of your assets and business interests.

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 of your business with minimal estate tax consequences 
  • Intentionally Defective Grantor Trusts
  • Lifetime gift planning
  • Transition financing issues
  • Tax planning
  • Transition of management of the business 
  • Senior management retirement issues
  • Management buyouts and ESOPs
  • Charitable giving options
  • Management, retirement and severance packages
  • Promoting values with charitable trusts and foundations
  • Preserving wealth for the future, including grandchildren, with dynasty trusts

Have you scheduled a meeting with your estate planning lawyer but you are not sure what to bring with you? Please click here for a list of documents that will help us in preparing your will, trust and other estate planning documents.

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

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