Business Formation & Succession Planning
Smart Formation, Strategic Succession
What is Business Formation & Succession Planning?
If you own a business, farm, or professional practice, WCSS offers personalized legal guidance for your unique planning needs. By working with an experienced business succession planning attorney, you can shield your family’s assets from business liability while forming the correct business entity and ensuring ongoing compliance with federal, state, and local laws.
Legal strategies for lasting success
Your Business, Built to Last.
Whether you are closing your business, selling it, or unexpectedly absent, your customers, employees, business partners, and family rely on you to have a sound succession plan when you are no longer there to make crucial decisions.
Business Planning encompasses some of the following and much more:
- Entity Creation & Operating Agreements
- Buy-Sell Agreements
- Purchase Agreements & Promissory Notes
- Security Agreements
- Income Tax Allocation
- Gifting Plans
- Family Limited Partnership/Family Limited Liability Company
Frequently Asked Questions
What type of business structure should I choose?
The right structure depends on your goals and the kind of protection you need. We help Arkansas business owners decide whether an LLC, corporation, or family partnership makes the most sense. The choice affects your taxes, liability, and even how your business will transition to the next generation, so getting it right from the start is important.
How can I prepare my business for the future if I step away?
Planning now can prevent confusion later. With tools like succession plans and buy-sell agreements, we make sure your business can keep running smoothly if you retire, sell, or become unable to manage it. Our goal is to protect both your livelihood and the people who depend on your business.
Can business planning help reduce taxes for me and my family?
Yes. We use strategies like family LLCs, gifting, and tax-efficient agreements to lower your overall tax burden. Many Arkansas business owners also use these plans to pass wealth on to children or grandchildren in a way that preserves both the business and family harmony.