Concord Business Succession Planning Lawyers

Legal Counsel for Business Owners in Cabarrus County & Beyond

For many business owners, their company is more than just a source of income; it is the product of years of dedication, sacrifice, and hard work. Planning for the future of that business is a critical step that is often overlooked. 

Business succession planning allows you to protect your legacy, support your family, and provide for a smooth transition of leadership or ownership when you retire, become incapacitated, or pass away.

At Black, Boone & Brasch P.A., we help business owners create thoughtful, legally sound succession plans that align with their goals and preserve the long-term value of their enterprise. 

Learn more about how we can help by discussing your needs with a Concord business succession planning attorney. Call (980) 255-5242 or reach us online for a complimentary consultation. 

Why Business Succession Planning Matters

Without a succession plan, an owner's sudden departure, whether due to retirement, disability, or death, can lead to confusion, disputes, or even the failure of the business. A carefully crafted succession plan helps avoid uncertainty by clearly outlining who will take over and under what terms. It also addresses financial arrangements, management continuity, and ownership transfers.

Business succession planning is essential for:

• Family-owned businesses
• Closely held corporations
• Partnerships and professional practices
• Business owners approaching retirement
• Entrepreneurs wanting to protect their investment for the next generation

What Can a Succession Plan Include?

A comprehensive business succession plan is tailored to the owner's specific business structure, industry, and goals. 

It may include:

• Buy-sell agreements – Legally binding contracts that govern how ownership shares are transferred if an owner exits the business.
• Operating or shareholder agreements – Documents outlining management structure, decision-making authority, and transfer provisions.
• Gifting strategies – Gradually transferring ownership to family members or key employees over time to reduce tax burdens.
• Trust-based planning – Using revocable or irrevocable trusts to transfer business interests while maintaining control during your lifetime.
• Disability or death contingency planning – Designating successors and securing key person insurance to protect business value.
• Tax planning – Minimizing estate and capital gains taxes through proper structuring and timing of transfers.

When to Start Business Succession Planning 

It is never too early to start planning for your business's future. The most effective succession plans are developed over time and adapted as the business grows and family dynamics evolve. Ideally, planning begins well before any expected transition and includes input from financial advisors, accountants, and legal professionals.

Delaying this vital process can result in forced decisions made under stress, which may not reflect your intentions or best interests.

Why Work with Black, Boone & Brasch P.A.? 

We understand that business succession planning is both legal and personal. We take the time to understand your goals, business, and those who depend on it. Our attorneys bring extensive experience in estate planning, tax law, and corporate governance to deliver clear, comprehensive strategies tailored to your unique situation.

Whether you plan to pass your business to a family member, sell to a trusted partner, or prepare for an eventual sale, we provide the legal framework and guidance to move forward confidently.

Call Us Today

Business succession planning is not just about protecting assets—it is about preserving your hard work and securing the future for those you care about. 

Contact us at (980) 255-5242 to begin crafting a plan that reflects your values and prepares your business for long-term success. Talk to one of our Concord business succession planning lawyers today.