When Business Gets Personal: Family-Owned Businesses
Family-owned businesses face all the same challenges as other businesses. In addition, they must cope with the issues that come from working with family members.
The business law attorneys of The Law Offices of Hugh Janow, LLC, in Pearl River, New York, are experienced in representing family businesses throughout the life of the business. The vast majority of our business clients are owners or managers of family-owned businesses.
Because of our extensive background in estate planning and tax law as well as business and corporation law, our law firm is well positioned to assist clients with the unique needs of family businesses.
Our lawyers can help you work through the business and family-related issues involved in organizing and operating a family-owned business, including:
- Business organization—We will help you determine the proper business entity for your business venture. Does a corporation, a limited liability partnership (LLP), limited liability company (LLC), or a family limited partnership (FLP) make sense for you? In addition, we will help you deal with any estate planning or inheritance issues that arise when some members of the family are participating in the business venture and others are not. We will develop an operating agreement, partnership agreement or buy-sell agreement that clearly defines the roles, rights and responsibilities of all participants in the venture.
- Business operation—Our lawyers will review, negotiate and draft contracts, including employment contracts, vendor contracts, customer contracts and commercial leases. We advise clients on the legal and tax implications of business strategies.
- Outside, in-house counsel—We provide all the services of an in-house counsel to family owned businesses that do not have an attorney on staff. This approach provides businesses with quality legal services more cost-effectively. In this role, we represent our clients in interactions with bankers, bond attorneys, real estate lawyers and other business, financial and legal professionals. From real estate issues to the purchase and sale of a business, we have the knowledge and experience to help you reach your goals.
- Business litigation—We work to resolve business disputes in the most efficient and cost-effective manner possible. Whether the issue is a dispute with an employee, a vendor, a customer, a competitor or another party, you can depend on us for effective dispute resolution. We also offer effective representation in cases involving the IRS and other tax problems.
- Business succession planning—We will help you prepare an exit strategy for your participation in the business. This may mean arranging for members of the next generation to take over the company or for selling your portion of the business to another partner or principal in the firm.
Contact The Law Offices of Hugh Janow, LLC, Today
To arrange a consultation with one of our lawyers about your family business, please contact The Law Offices of Hugh Janow, LLC, at call 845-735-8385.
