We are open in our 6 offices to serve your needs

succession planning

Family Lawyers Advising Business Owners on Succession Planning

If you are an entrepreneur or own a family business you should have a succession plan in place to ensure a continuous transition of the business in the event of your retirement, a long-term illness, an accident, or death. Neglecting this important planning step can leave your business open to risk and financial loss and can make its ongoing success a challenge.

At Gelman & Associates, we can help you craft a well-thought-out succession plan that can limit future conflicts such as fights for ownership, leadership, or control of your company, and other issues that may arise when unfortunate circumstances arise. Our lawyers strive to make our clients feel empowered to make informed decisions. We get to know you and your business, in order to understand your short and long term goals and concerns. We will work tirelessly to deliver the best results possible and ensure the continued success of your venture.

Why Is Succession Planning Important?

It is important to create a succession plan that addresses both your personal and business goals and objectives.

A well-drafted and up to date succession plan will ensure that the transfer of your business will be seamless, and will help you to:

  • Maintain good relationships with employees, business partners, suppliers, and other relevant stakeholders;
  • Provide financial security for your family, shareholders, and others;
  • Maximize your company’s value;
  • Maintain your legacy.

Factors to Consider

There are many financial, legal, and tax implications when planning for the future of your business. Proactive planning for all possible outcomes will require both preparing your business for potential separation or divorce, but also comprehensive estate planning, including wills or family trusts.  When planning for the future, there are many issues to consider, such as:

  • Providing an income to your children and other family members;
  • Power of attorney; and
  • Tax considerations.

At Gelman & Associates, we understand the unique concerns of business owners, and help them prepare for the future. We provide you with the information you need to identify and mitigate risk, provide for your loved ones, and guarantee your legacy. With our help you can achieve peace of mind.

Contact our Family Law Lawyers in Aurora, Barrie, Downtown Toronto, Mississauga, North York and Scarborough for Advice on Succession Planning

Proactive planning is the key to continued success of your business. At Gelman & Associates, our team of knowledgeable family lawyers can advise you how you can best protect your family business from future uncertainty. With our forward-thinking guidance you can prepare for all eventualities. We have offices conveniently located across Ontario and our phone lines are open Monday to Friday from 8 AM to 8 PM. Call us at (416) 736-0200 or 1-844-736-0200 or contact us online to see how we can help.

Contact Form - Contact Us Page

Request a free consultation

Please fill up this form with your contact information and someone will be in touch with you soon.

Contact Preferences

How would you like to be contacted? Click all that apply.

How can we help you?

Brief description of your legal issue:

The use of the Internet or this form for communication with the firm or any individual member of the firm is not secure and does not establish a lawyer-client relationship. Confidential or time-sensitive information should not be sent through this form.

From the Blog

Latest posts from the Gelman & Associates blog

24

How to Cope with a Narcissistic Ex

  You may have gone into your divorce believing that you would be free of your narcissistic partner.  Unfortunately, that is not always the way things happen, and your ex’s behaviour may not stop simply because you are now divorced.  This is especially true if you have children in common and therefore must continue to …


Read More
08

When Is Spousal Support Appropriate? What It All Means

Spousal support is a monetary payment that one spouse may be ordered to pay the other for their financial support at the end of a marriage or relationship involving long-term cohabitation.  The payment may be either a lump sum or periodic payments and it is generally sought by the lower-earning spouse – although it is …


Read More
02

Best Ways to Reduce Legal Fees During a Divorce

If there is one thing that divorcing parties can usually agree on, it’s that divorce is expensive.  This unfortunate truth is well known to family law lawyers and their clients, but there are ways to reduce legal fees during your divorce.   The most effective way to limit legal fees and the overall expense of divorce …


Read More

Contact

Questions? Send us an email

Contact Form - Home
Sending

locations

Toronto

4211 Yonge Street • Suite #210 • Toronto • Ontario • M2P 2A9

View Map

Aurora

16 Industrial Parkway South • Aurora • Ontario • L4G 0R4

View Map

Barrie

500 Mapleton Avenue, Suite A • Barrie, Ontario • L4N 9C2

View Map

Downtown Toronto

100 King Street West • Suite #5600 • Toronto • Ontario • M5X 1C9

View Map

Mississauga

4257 Sherwoodtowne Blvd Suite #300 • Mississauga Ontario • L4Z 1Y5

View Map

Scarborough

10 Milner Business Court • 3rd Floor • Scarborough • Ontario • M1B 3M6

View Map