Our office remains open to serve your important legal needs during these turbulent and challenging times. We are happy to schedule client consultations and client meetings by telephone or video-conference at your request.
Bryan E. Kuhn
Counselor at Law, P.C.
Business & Employment Law Attorney

Business succession issues

Colorado entrepreneurs who are contemplating existing their businesses for retirement have many issues to consider. Business owners who want to move on in a way that will benefit both themselves, their family and the business should have an effective succession plan.

If there is a family member who wants to assume control of the business once the current owner steps aside, the owner will have considered the financial impact of transferring ownership to that family member instead of selling the company outright. The owners should ensure that any transitional agreement to which they agree includes provisions for retirement income for themselves and their spouse.

Business owners who have favorite charities may also want to ensure that those charities continue to receive donations after the business changes hands. A charitable organization can be created through the business so that philanthropy remains a part of the business. Donations can also be made to mitigate the tax assessments on capital gains earned after the business is sold.

Another concern is whether trust funds should be created for future generations. The legal devices can be used to protect the profits earned from the sale of a business. Trusts can also be created and funded with business assets before the change in ownership of the business occurs.

The manner in which family members are likely to handle the wealth should be addressed when creating a succession plan. If there are family members who lack the financial maturity to handle wealth responsibly, there should be safeguards included in the plan to ensure that the money is managed well.

An attorney who practices business and commercial law may assist entrepreneurs with crafting a business succession plan that protects the family business. The attorney may engage in business litigation to protect the rights and interests of clients during business disputes.

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“I used the Bryan E. Kuhn, Counselor at Law, P.C. team to help me with a case. They were always professional, upfront, and positive providing guidance while keeping me informed.”
– L.H.

“Everyone at the firm was professional, responsive and courteous. I would definitely recommend this firm if you are in need of superior legal assistance.”
– J.S.

“Bryan and his law firm operate with great professionalism and personal touch. I appreciated the way he and his team offered transparent communication.”
– N.S.

“The team was very professional in helping me to get through an uncomfortable ADA situation at my workplace. This was a very good legal experience. I would recommend Bryan E. Kuhn & team to anyone who needs work related legal help.”
– D.L.

“Bryan, Katie, and all the staff in this office are super fast to respond, expert in their fields, and always helpful. We have been extremely pleased with their services for our small business.”
– T.Z.

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Bryan E. Kuhn, Counselor at Law, P.C.
1660 Lincoln Street Suite 2330
Denver, CO 80264

Local: 303-424-4286
Toll Free: 866-693-5541
Fax: 303-425-4013
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