My Dad has a small business that’s been running for nearly 50 years, co-owned with a close friend and business partner. Both are older and close to retirement age. About 16 months ago, my Dad had a severe accident and isn’t able to go back to work. I know what he wants for the business’s future and ownership, but he’s not well enough to handle these discussions now.
I think we need to consult an attorney to figure out how to handle changes in ownership for the business. I’ve talked to financial advisors and a few others, but haven’t been able to connect with a corporate attorney yet.
Does anyone here have tips or suggestions for finding a reputable attorney who can guide us?
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You said you’ve networked with financial advisors. Did you ask them directly for lawyer recommendations?
In my case, my bank rep recommended a CPA firm, the CPA firm pointed me to a law firm, and that law firm recommended a specialist lawyer. It’s amazing how these professionals are all connected. Maybe try that route?
There are directories you can check, like the Family Firm Institute or the Purposeful Planning Institute. They list experts in family business succession, which might be exactly what you’re looking for.