Whether you are starting a business or looking forward to the day you can retire, you need to make sure that your business is properly formed and maintained.  Most business owners do not take the time to plan for how they will leave their business. They are busy running the company, or they don’t know where to start. But if you are starting a business or are operating a current business, proper planning is essential to achieve the highest level of protection for you and your family, reduce taxes, optimize intellectual property rights, and insure that your business will survive a catastrophic event such as your death.  

Properly forming your business will result in you and your family receiving the best possible tax and asset protection results, both now and after your retirement, disability or death. 

In your business planning, it is important to consider potential trademark issues.  Every business has a name.  Every business name has trademark implications.  Whether building up value and goodwill for the company itself, or potentially infringing upon someone else’s trademark use, it is always wise to consult with a trademark attorney to maximize the value and profitability of the company and potentially prevent costly rebranding later on.

Planning for how you will exit from your business should be an integral part of your business, estate and retirement planning. Proper planning now can provide you with retirement income, reduced income and estate taxes, and even let you benefit a charity if you so choose, regardless of whether you transfer your business to family members at discounted values, to employees, or to an outside buyer. 

Contact the attorneys at Bryan Law Firm, P.C. today if you have questions about forming a business entity, would like to review your current business documents, or would like to talk about business succession planning.