Business Planning

We know that starting or organizing a business is an exciting time. This is the best time to make plans for a successful business. Choosing an entity is one of the first steps. There are important legal and tax considerations when choosing an entity. Therefore, it is very important to have the advice of an experienced attorney and a knowledgeable accountant. There are informal associations, such as sole proprietorships or general partnerships. There are also formal associations, such as corporations, S corporations, limited liability companies, limited partnerships, and limited liability partnerships.

Sometimes, you can start out with a simple entity that can grow and evolve with you as your business grows and becomes more complex. Business entities can also be very useful as estate planning tools when it is time to consider a succession plan for a business.

Operating Agreements, Shareholder Agreements, and Buy-Sell Agreements are all additional and very important parts of an effective business plan. It is important to consider how life’s major events, such as death, divorce, disability, disaster, or the bankruptcy of a principal of the business will affect the health and viability of the business. It is important to consider these possibilities at the beginning of the business and have a plan in place to address such contingencies before the need arises.

If you are thinking of starting a new business or organizing an existing business, please contact the trusted attorneys of Eberhard, Weimer, & Glick. We look forward to working with you and helping you make your business a success.