Business Succession Planning

Arizona and New Mexico Business Succession Lawyer

You’ve worked hard to build your business. What are you going to do to make sure you keep your success in your family when you retire or die? Business succession planning is one of the most important components of advanced planning for holders of medium and large estates. It is not enough to simply appoint an adult child or other beneficiary as the president of your company. The right business succession plan also examines tax consequences of the transfer, risk assessments to avoid possible litigation from other shareholders, provisions for funding transfers and protection for successor owners and managers.

Morris Hall, PLLC, is recognized as one of the preeminent advanced estate planning law firm serving the needs of business owners throughout Arizona and New Mexico for more than 30 years. Our attorneys work closely with clients to ensure optimum provisions for the transfer of business interests to the next generation, from tax as well as non-tax perspectives. This includes consideration of family dynamics and your wish to minimize conflicts among family members and co-owners. We have particular expertise in designing family limited partnerships and limited liability companies, and in utilizing buy-sell agreements, often including life insurance arrangements, in a variety of situations.

Lifetime Transfers

Lifetime estate freezes, intended to shift the income or appreciation of the business to younger generation beneficiaries, must comply with Internal Revenue Service guidelines to avoid adverse gift and estate tax consequences. Our experience in tailoring partnership and operating agreements within such guidelines facilitates tax-advantaged transfers of business interests to our clients’ family members.

Testamentary Transfers

When personal business interests are to be transferred at death, the terms of such transfer should be integrated with the client’s overall estate plan in order to minimize intra-family disputes and to protect the beneficiaries. Estate planning for business interests also includes consideration and implementation of special tax provisions intended to reduce or defer income tax, capital gains tax and estate tax.

Business Valuation

One of the most critical issues in business succession planning is the process by which an interest in the business will be valued at the time of its subsequent transfer. In evaluating the appropriate method, we consider the specific purpose of the contemplated transfer as well as the future feasibility of the process. We work closely with appraisers and related valuation experts during both the planning stage and after the transfer. Having certified public accountants on board at MH Accounting, we also advise our clients in connection with the reporting of their transfers on gift and estate tax returns.

AAEPA • NAELA • WealthCounsel • AV Rated* • CPAs • Licensed Financial Planners

Contact us to arrange a consultation with an experienced lawyer today. Our offices are located in Phoenix, Tucson, Albuquerque and communities throughout Arizona and New Mexico.

*Martindale-Hubbell’s AV peer review rating is the highest-rated category an attorney can achieve in the areas of legal skills and ethical standards. AV is a registered certification mark of Reed Elsevier Properties, Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.


American Academy of Estate Planning Attorneys Avvo NAELA | National Academy of Elder Law Attorneys, Inc. #1 Ranking Arizona | The Best of Arizona Business Wealth Counsel A+ Rated with BBB

Morris Hall PLLC, provides legal advice and representation for clients in communities throughout the southwestern United States, including communities throughout Arizona and New Mexico, such as Phoenix, Scottsdale, Mesa, Glendale, Cave Creek, Carefree, Chandler, Prescott, Gilbert, Tempe, Peoria, Albuquerque, Las Cruces, Flagstaff, Surprise, Green Valley, Sedona and Santa Fe.

Maricopa County • Pima County • Bernalillo County • Santa Fe County • Dona Ana County • Yavapai County • Coconino County

Copyright © 2015 Morris Hall PLLC All rights reserved.     Disclaimer | Site Map | Privacy Policy