As business owners ourselves, we understand that your Missouri or Arkansas business is quite possibly your most significant asset. The Law Firm of Christopher W. Dumm works with individuals starting a business in Missouri or starting a business in Arkansas. We handle all your legal needs, from contracts, business formations, business exit strategies, and business succession planning.
Understanding Arkansas and Missouri Business Exit Planning
Business exit planning might come about for many reasons for businesses in Joplin and Springfield, MO, Bentonville, AR, and surrounding areas. Perhaps it’s part of your estate planning in anticipation of retirement or a new chapter in your life. Whatever your personal or professional reasons, you need a business exit strategy. An attorney with expertise in business and estate planning can help owners and shareholders exit their businesses smoothly.
A business exit strategy is customarily created after employees, coworkers, other shareholders, and family members have been consulted. At this point, goals for the future of the company have been outlined. The steps can be reasonably straightforward if the needs of all parties are taken into consideration. Having an experienced and knowledgeable Missouri or Arkansas business attorney is essential in creating this plan.
Arkansas and Missouri Business Attorneys for Business Succession Planning
Most Arkansas and Missouri business owners want to sell their business to “insiders” – family members, third parties, or often crucial employees who have gained their employer’s trust over the years. However, this can pose numerous challenges. Unfortunately, handing over the keys of the business you created to the right person is not always as simple as it sounds. Consult with an Arkansas or Missouri business attorney first to uncover potential issues.
Business succession planning helps business owners smoothly transition and ensure the continuity of company operations upon the death, disability, or retirement of the Arkansas or Missouri business owner. Creating a plan can also help you prepare for the potential sale of one owner’s portion of the company. Our Arkansas law firm, Joplin, MO, and Springfield, MO law firm understand the legal nuances in both states.
Whether you are starting a business in Arkansas, starting a business in Missouri, or ready to pass on your business to the next generation or liquidate, you should seek out sound legal advice from a business formation lawyer to assist you in this transition. Our experienced business formation attorneys will work with you to bring about an acceptable agreement for all parties involved by exploring, designing, and implementing your business exit plan.
The Law Firm of Christopher W. Dumm helps you and your loved ones understand estate planning, asset protection, probate and estate administration, elder law, Medicaid planning, special needs planning, tax planning, and business planning. We welcome you to contact our Joplin and Springfield, Missouri, offices, as well as our Bentonville, AR office to learn more about how we can help meet your business planning and formation needs.