Overview
Burr & Forman assists clients and prospective business clients in planning and implementing business and tax strategies, at all stages of business from formation and profit-sharing structure, to management and succession planning.
We advise clients in a number of areas including:
Distributions
Assist businesses on how and when money will be distributed to owners and if there are any priority distributions.
Exit Strategy/Succession Planning
When the time comes to make an exit strategy that includes transferring the business, we work with clients to make sure every part of the exit plan is taken care of. This includes deciding on whether to sell to a business partner or third party or transfer the business to employees, the next generation, or a combination of owners. We walk clients through the entire ownership transfer process and are there to answer questions on retaining some control, taking care of the family after the transfer, or any employee, lender, supplier, and/or customer issues.
Formation/Capital Contribution
Advise clients on company structure, such as limited liability or incorporation, and on company capitalization, including loans from banks, lenders, or sales of stock and other equity interests. Our team also advises established companies on raising capital through recapitalizations, sale-leaseback transactions, or additional sales of stock or other equity interests.
Management
Advise clients on the best management structure for the company including the positions of directors, managers, and officers. This includes helping clients navigate through employment agreements, shareholder agreements, partnership agreements, or operating agreements.
Sharing of Profits
Advise clients on executive and/or equity-based compensation arrangements such as bonus and performance-based compensation plans as well as stock option and stock purchase plans.
At Burr, we take a team approach to business & succession planning, involving attorneys from multiple service areas to a client in order to achieve the most comprehensive representation possible.
