Business continuation planning is generally defined as developing and implementing a plan of succession. Proper business continuation planning will determine who will take over your business if you pass away prematurely, become disabled or retire. Also, a proper business continuation plan will have other agreements in place designed to minimize unnecessary income taxes and litigation.

Ensuring the continuation of your business with a properly drafted agreement will provide more than just a mechanism for transferring the business. It may save you thousands of dollars in taxes as well as additional accounting and legal fees. In addition to saving on additional unnecessary costs, a properly executed plan will reduce delays and the frustration of IRS contests and additional litigation. When properly drafted, a well planned agreement will establish the value of a business for the purposes of federal estate and gift taxes. Planning for the future is the best answer for events that can potentially put a growing business in disarray and in some cases destroy the business.

Our professionals at Fredrick James provide valuable services using estate, business and personal planning techniques that will help you, your loved ones, and business associates get through tough times. Our tailored planning addresses the financial and tax areas affecting you personally, your business and other interested parties.

Call 727-474-0922 or email today and let Fredrick James, along with our professional business partners, set up a tailored Business Continuation Plan that will allow your company to survive during times of transition.

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