Arizona Probate Disputes Lawyer
Many people spend years building a successful business but fail to properly put together and implement a clear plan concerning what will happen when they no longer wish to or are no longer able to run the business. They do not properly address their business succession. Only a small percentage of family-owned companies are successfully taken over by a family's next generation. A smaller percentage survives to the third generation and by the fourth generation the percentage is only miniscule.
Because business succession planning is frequently overlooked or improperly implemented, disputes often develop between the family members or other interested parties on succession issues. Family members are frequently the logical choice for business succession, but often there may be situations where not all children want to be involved or some children are less capable or ambitious than others and disputes may develop. These can relate to business ownership, operation and fair compensation. Often, a decision to sell to a third party may make the most sense, but family members don't always agree on the plausibility and economics of such a sale. Business succession disputes may also arise over issues such as financial needs and priorities of the respective family members and/or partners, retirement income decisions, business control issues and life insurance implementation. Non-family member business partners may also be at odds with family members or with each other in business succession matters. Sometimes the successor parties' plight may be governed by buy-sell agreements, but the execution and enforcement of such agreements sometimes results in litigation disputes as well.
Our firm has handled a large number of cases involving business succession disputes. We have more than 25 years of experience as a law firm serving our clients' needs in all types of trial and arbitration matters. William D. Black has been a lawyer since 1979 and can put his expertise and many years of experience to work for you. If you are involved in a business succession dispute, you are welcome to contact our law firm for a free initial consultation. We will determine whether we can help you and discuss our reasonable fee and cost arrangements.