Probate, Estate Planning & Guardianship

Business Succession Planning

Margrave Celmins, P.C. can assist in situations where the personal asset is the family business operated by the parents or one of the children.

Significant problems often arise as to continuing a business after a parent has retired or dies. The issues often revolve around the question of what role in the operations and/or ownership the remaining family members should have.

This failure to plan can lead to some unfortunate consequences down the road that offer the potential for creating negative tax issues, in-fighting among beneficiaries, lack of a qualified person to step in upon the occurrence of a catastrophic event and ultimately even failure of the business to the financial detriment of all.

For further information, contact Michael W. Margrave and Laura M. Trujillo at our AV-rated* law firm.

* CV, BV, and AV are registered certification marks of Reed Elsevier Properties, Inc., used in accordance with the Martindale-Hubbell certification procedures, standards, and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the judiciary. Martindale-Hubbell Ratings evaluate two categories–legal ability and general ethical standards.