Business Planning

If you own a business, proper business planning is absolutely critical to the success of your enterprise and to your entire estate plan. 

Choice of

Business Entity

Even if your business is not your principal asset, improper business planning can cause the loss of a large part of the rest of your estate through a lawsuit that could possibly have been avoided.  If you create a company without legal consultation you may be choosing the wrong type of entity for a high risk business. You could be sued and lose large portions of your assets. Therefore, the choice of entity can be critical from a tax as well as a liability standpoint.  Some business entities, such as subchapter S corporations, are very poor vehicles from an estate tax perspective, and some entities, such as “C” corporations, are subject to double income taxation, as the corporate income is taxed and any dividends paid to the shareholders are subject to personal income tax.

Buy/Sell Agreements

If you have non family partners or shareholders, you will want to consider having buy/sell agreements in place.  If a partner dies, a buy/sell agreement will protect you from having to work with that partner’s spouse or children, since those individuals - oftentimes - have very little knowledge of the business, or any interest in even running the business. A buy/sell agreement is a vehicle to address these ownership problems.

Contact us today to schedule a FREE consultation, (413) 351-2100.

Business Law

Law Offices of Sarah A. Miller
(413) 351-2100
75 North Main Street, East Longmeadow, MA  01028

The Law Office of Attorney Sarah A. Miller serves the following towns:
West Springfield, East Longmeadow, Springfield, Southwick, Longmeadow, Hampden, Wilbraham, Westfield, Indian Orchard, Three Rivers, Ludlow, Chicopee, Monson, Holyoke, Palmer, Thorndike, Bondsville, South Hadley, Granby, Wales, Brimfield, Agawam, Belchertown, Southampton, West Warren, Holland, Feeding Hills, Warren, Woronoco, Fiskdale, Russell, West Brookfield, Hadley, Amherst, Sturbridge, Berkshire County, Franklin County, Hampden County, Hampshire County and Worcester County.