LaGrange: 1023 W 55th St #200, LaGrange, IL 60525 | Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
LaGrange: 1023 W 55th St #200, LaGrange, IL 60525
Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
LaGrange: 1023 W 55th St #200, LaGrange, IL 60525
Deerfield: 770 Lake Cook Rd #100, Deerfield, IL 60015
Family Business Succession
Illinois Family Business Succession Attorneys
For business owners, your company is more than just a source of income—it is a legacy built on years of dedication, hard work and vision. But what happens to this legacy when it’s time to step away or unforeseen events arise? Without a well-thought-out succession plan, your business could face challenges ranging from operational disruptions to financial instability. At Wilson & Wilson Estate Planning & Elder Law LLC, we understand the intricate nature of ensuring a smooth transition and offer tailored solutions to preserve the continuity and growth of your enterprise.
The Complexities of Business Succession
Addressing Key Legal Considerations
Business succession involves much more than simply choosing a successor. It is a legally complex process that requires careful preparation. Factors such as business structure, ownership agreements, and compliance with Illinois regulations all need to be addressed. For example, a limited liability company (LLC) might necessitate detailed provisions in the operating agreement, while corporations often require comprehensive shareholder agreements to avoid conflicts.
At Wilson & Wilson Estate Planning & Elder Law LLC, we help you draft and refine the essential legal documentation, ensuring that your plans align with the specific needs of your business structure. Our attorneys are experienced in balancing the interests of all stakeholders while securing your intentions for the company’s future.
Navigating Tax Implications
Taxes are an integral part of business succession—and improper planning can erode years of financial growth. Our team evaluates your potential estate and business taxes, helping you explore strategies to minimize liability. Whether considering the use of trusts, buy-sell agreements, or structured payouts, we craft solutions that keep your business financially sound during and after the transition.
Preparing for Unforeseen Challenges
A successful succession plan includes contingencies for unexpected events. For instance, what happens if a chosen successor becomes unavailable or there are disputes among beneficiaries? By incorporating tools such as durable powers of attorney or establishing clear criteria for decision-making, we help you create a flexible yet robust plan to minimize risks and ensure continuity.
Tailored Solutions from Skilled Attorneys
Planning for your business’s future is a deeply personal endeavor—one that often involves balancing family dynamics, stakeholder expectations, and company goals. At Wilson & Wilson, we excel in providing personalized guidance firmly rooted in more than 40 years of professional experience. Our approach prioritizes understanding your unique business landscape, challenges and aspirations, allowing us to offer solutions crafted specifically for you.
From ensuring the seamless transfer of leadership to preserving the financial integrity of your company, we leverage our knowledge of estate planning, tax law, and corporate governance to ensure no detail is overlooked. Whether transferring leadership to family members, selling to a third party or planning for employee ownership, our attorneys offer invaluable counsel backed by years of experience.
Ensuring Continuity for Future Generations
By partnering with Wilson & Wilson on your business succession plan, you can address potential obstacles with the confidence that your legacy is in capable hands. Beyond legal assistance, we provide an unparalleled commitment to excellent client service, working closely with you every step of the way.
Contact Us for Trusted Business Succession Planning
Your business deserves a future as bright as the one you’ve worked tirelessly to create. Take the first step toward protecting your legacy by scheduling a consultation with Wilson & Wilson Estate Planning & Elder Law LLC. Contact us today so your business thrives for generations to come.
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Meet Our Team
Hear From Our Satisfied Clients
Wilson & Wilson Estate Planning & Elder Law, LLC helped me navigate a very tumultuous time in my life. Sandra and her team were so gentle with me and the processes that needed to take place for a timely distribution. They worked tirelessly to ensure I was supported throughout the process. Although no one is actually prepared for the death of their loved one Sandra made going through it less painful. I’m forever...
Bill Wilson and his staff are amazing! We have known Bill for over 25 years and have trusted him to handle our different legal situations. From his expertise in our estate planning to seeking his advice on handling our elder relative's estate, we are confident we have the best protection by using Bill. My family and I are truly thankful for his knowledge and patience when dealing with such personal and tough conversations...
GOD has blessed me with alot but by people's standards maybe not that much; however Attorney Sandra Schildgen made me feel like a Billionaire! It is also noteworthy that from the front office and assistant personnel gave that feeling "we are family". I look forward in continuing our relationship in the future. GIVE Wilson & Wilson your business.
Great attorneys, and great staff in general, all knowledgeable and extremely helpful..
Everyone was really professional and helpful with assisting me with Estate Planning!
Mr. Wilson has helped our family VERY MUCH. His "down to earth" honesty and integrity made what could have been a difficult situation easy to get through. AND, we felt his rates were reasonable for the personal service we received. HIGHLY RECOMEMDED.
Wilson & Wilson has the experience, knowledge and professionalism to handle complex estate planning needs.They address all the details and devise a tailored plan providing asset protection, growth and wealth management.
I can’t say enough about the way Sandra, Kayla and Jennie handled my legal needs. The Medicaid process for my husband was very complicated for me but this team of professionals handled all of it and kept in touch with me through the entire process. Every concern and question I had was promptly addressed and I am very satisfied with the final outcome from the appeal Sandra filed for us. In addition to...
Our experience with Wilson and Wilson in updating our estate planning documents was great. Sandra and Kayla were wonderful to work with. Sandra took the time to make sure we understood the language and elements of each document. She is very knowledgeable thorough understanding and open to suggestions and changes. The work was completed in a minimum amount of time. We feel fortunate to have had such a great worry-free experience working with...
We just received the refund from the facility today. Thank You so very much for all your help with my Mom's file. You and the staff at Wilson & Wilson Estate Planning & Elder Law LLC are outstanding people. It is an Honor to have your law office represent us. I would like to keep in touch with you for future family business.
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