Business Succession Planning

Ulmer & Berne has extensive experience in devising succession planning strategies for owners of privately held businesses. Our family and closely held business clients range from small business enterprises to some of the largest privately held U.S. corporations.

We provide general corporate, tax, estate planning, employee benefits planning and other legal services to family and closely held businesses and their owners. Our lawyers are highly skilled transactional attorneys as well as experienced business advisors and counselors. The broad and extensive experience of our lawyers in this area allows us to offer a valuable combination of technical experience and practical application. This includes:

  • Developing tax-efficient strategies for transferring ownership
  • Recognizing competing interests among family members
  • Assessing the advantages and disadvantages of sale versus retention
  • Minimizing the impact of a transition on key non-family member employees
  • Most importantly, assuring harmonious long-term family relationships.

Ulmer Counsel Linda DelaCourt Summers recently published an article in Bloomberg Tax entitled, “Digital Assets, Digital Access, and Queen.” Summers’ love of music inspired her to explore how digital assets like MP3 songs, Facebook accounts, and airline miles are changing estate planning in today’s information age. To access the article,...

The Treasury Department and Internal Revenue Service (IRS) recently released proposed regulations concerning the valuation of business and investment interests for purposes of gift, estate and generation-skipping transfer taxes.  The regulations relate to the interpretation and implementation of Internal Revenue Code (“Code”) section 2704.  Code section 2704 provides special gift,...

Ulmer & Berne LLP welcomes Stephanie M. Glavinos as counsel in the firm’s Cleveland office. Ms. Glavinos brings over a decade of legal experience to Ulmer & Berne’s Trust and Estates Practice Group, which recently earned the highest ranking available from U.S. News – Best Lawyers’ “Best Law Firms.” Ms....

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