Medlin & Medlin, PA
Attorney at Law
(704) 786-8173
Concord, NC 

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ESTATE PLANNING CONTINUATION OF FAMILY BUSINESS

Let me tell you something you may not know about proper planning for the ongoing operation of the family business.

Many family businesses do not last more than one generation.

Often this is due to poor planning or no planning for the future of the family business.

Planning for that inevitable transfer of business from one generation to another is crucial.

You worked hard to build that family business. You planned well for your future. Don’t let a lack of planning end that business way too soon.

A carefully crafted buy/sell agreement can be used to keep the business out of the hands of inlaws or outlaws or others who were never intended to have a say in running the family business.

The buy/sell contract establishes who has the right to acquire the shares of the deceased owner at a predetermined price or at an appraised price.

When you craft the buy/sell contract, you also have the company purchase life insurance to provide the cash to purchase the deceased family member’s interest.

In nearly 40 years of law practice, I have handled thousands of effective estate plans.

My job is to take care of my clients.

Call me.