Serving Southeast Michigan For Over 30 Years.

Business Succession Planning

O'Reilly Rancilio’s Michigan estate planning attorneys help families plan for the transfer of closely held businesses from one generation to the next. Business succession planning is a complex process that requires knowledgeable representation to accomplish a smooth transition and avoid unnecessary probate and taxes.

In the appropriate family business situation, our attorneys create a family limited partnership (FLP) or a family limited liability company (FLLC) to insulate business assets from the probate process and avoid or minimize federal estate taxes. Creation of these entities, supported by well-drafted estate planning documents, such as wills and irrevocable trusts, often assist in the successful transfer of business owners' interests to their heirs.

You may be years away from the transferring of your business to the next generation. Advance planning provides you with more options and flexibility, resulting in a greater likelihood of your business's continued prosperity and the preservation of your legacy. Various means may be used to accomplish these objectives, including planned gifting of personal assets and the use of powers of attorney to enable your spouse or adult children, or a trusted third party, to assume responsibility for operating your business in the event of your physical or mental incapacity.



Our business succession planning attorneys are:


Press Room

Sep
4
Eight O'Reilly Rancilio attorneys have made the peer-selected Super Lawyers list. Read More
Jul
30
The Oakland County Legal News recognized O’Reilly Rancilio summer law clerk Dean Michel in their July 29, 2019 edition.  The article, titled “Litigation Vocatio… Read More
Read More From Our Press Room

Blog

Sep
25
Michigan employers may wonder if they should relax their policies on employee drug testing with the Nov. 8, 2018 passage of Proposal 1, the Michigan Regulation and T… Read More
Sep
24
A youth who violates the law is guilty of a misdemeanor and may be subject to various fines, required to attend health promotion and risk reduction programs, and per… Read More
Read More From Our Blog