March Update From Gudorf Law Group

For most business owners, their business is a source not only of income but of personal and professional pride. It may represent, aside from raising a family, the most significant achievement of their lifetime. Given the importance of the business in their life, it is surprising how many people fail to plan for the future of their business after their retirement or death. Careful succession planning greatly increases the likelihood that a business will continue to thrive after the departure of the current owner. Planning ensures a smooth transition and continued excellent service to clients and customers. Succession planning for any business requires careful forethought; succession planning for professional practices is even more complex.