Rapid City Business Succession Planning Lawyer
Secure the Future of Your Business with Expert Succession Planning
Running a successful business in Rapid City, SD, requires careful planning—not just for today but for the future as well. Whether you own a family business, a partnership, or a corporation, having a solid succession plan in place ensures a smooth transition when the time comes to pass on leadership. At Beardsley, Jensen & Lee, our experienced business succession planning lawyers help business owners create legally sound strategies that safeguard their legacy and protect their interests.
Why Business Succession Planning Matters
A well-structured succession plan provides clarity and direction, reducing uncertainty and potential conflicts among stakeholders. Without a plan, businesses may face legal disputes, financial losses, or even closure. Our legal team at Beardsley, Jensen & Lee works closely with business owners to craft personalized plans that align with their long-term goals, whether that involves transferring ownership to family members, selling to a third party, or preparing an internal management team to take over.
Schedule your consultation today at (605) 777-7466 with an estate planning lawyer near you.
Our Rapid City Business Succession Planning Services
1. Ownership Transfer Strategies
Selling to co-owners or partners
Passing the business to heirs or family members
Selling to an external buyer
Employee stock ownership plans (ESOPs)
2. Business Valuation
Determining the current and projected value of the business
Ensuring fair market value for future transactions
3. Tax Implications & Financial Planning
Minimizing estate and capital gains taxes
Structuring the transition for financial efficiency
4. Legal Agreements & Documentation
Buy-sell agreements
Operating agreements with succession provisions
Employment contracts for key personnel
5. Dispute Resolution & Contingency Planning
Handling unexpected events like disability or death
Preventing and resolving ownership conflicts
How Beardsley, Jensen & Lee Can Help
At Beardsley, Jensen & Lee, we take a comprehensive approach to business succession planning. Our attorneys work closely with business owners to understand their unique circumstances and develop a tailored strategy that ensures a seamless transition. With our extensive experience in corporate law, tax planning, and estate law, we provide strategic solutions that protect your business interests and maximize long-term success.
Schedule your consultation today at (605) 777-7466 with an estate planning lawyer near you.
Business Succession Planning FAQs
What is business succession planning?
Business succession planning is the process of preparing for the transition of business ownership and management. It ensures a smooth transfer of leadership and assets while protecting the interests of the business and its stakeholders.
Why do I need a business succession lawyer?
A business succession lawyer provides legal expertise to help structure the transition properly, ensuring compliance with state and federal laws, minimizing tax burdens, and preventing potential disputes.
When should I start planning for business succession?
It’s never too early to start. Ideally, business owners should begin planning years in advance to allow ample time for structuring financial, legal, and operational aspects of the transition.
What happens if I don’t have a succession plan?
Without a plan, your business may face legal disputes, financial instability, or even forced liquidation. A lack of clear succession planning can create uncertainty for employees, stakeholders, and family members.
Can succession planning help with tax savings?
Yes, a well-structured plan can minimize estate taxes, capital gains taxes, and other financial burdens, ensuring a tax-efficient transition.
How can I ensure a fair valuation of my business?
Our attorneys work with financial experts to determine an accurate and fair market value for your business, ensuring a smooth and equitable transition process.
Do I need a succession plan even if I plan to sell my business?
Yes. Whether passing the business to a family member, selling to an employee, or selling to an external buyer, a succession plan ensures a structured and legally compliant transition.
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Even before I became a client I was taken care of. It was a long battle but I can honestly say I never felt worried, I knew I had an entire team working for me. It didn't matter at what point we were in the legal process, I was always well protected.- Shannon H.
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This was my second case working with the Beardsley Law Team after an auto collision. They were knowledgeable, professional, and personable and kept me informed every step of the way. They are amazing!- Deanine R.
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Brad Lee and his team are amazing and really stood up for us when we needed it! We always knew what was happening and he always took the time to explain the process and set clear expectations. No question or concern was too small.- Brad & Tara F.
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I was in a severe workplace accident. Became permanently disabled. I lost everything. The team of Beardsley, Jensen & Lee went to bat for me. They answered every question I had. I do not know what I would have done without them.- Troy H.
