Business Planning & Succession

80% to 90% of all U.S. businesses are family owned. Only 30% survive into the second generation and only 12% into the third generation. Failure to properly plan is the cause of many failures. Our firm works with you, your family, and the other members of your planning team to help you beat the odds.

Some representative issues in succession planning include:

  1. Developing the succession team.
  2. Determining if the business should remain in the family.
  3. Promoting family harmony.
  4. Assuring a secure retirement for the owner.
  5. Assessing the role of the owner's spouse.
  6. Efficiently and fairly distributing the business and other assets to the next generation(s).
  7. Passing control in a manner to continue the business.
  8. Providing safeguards to minority owners.
  9. Minimizing estate, gift, income and payroll taxes.
  10. Developing a family council.
  11. Utilizing an advisory committee.
  12. Developing a management succession plan.
  13. Retaining key employees.

For Passaro, Kahne & Taylor attorneys and staff providing client services in the Business Planning & Succession area, please see:

T.J. Passaro, Attorney

Brenda M. Karston, Legal Assistant

The attorneys at Passaro, Kahne & Taylor Law Offices, PLLC assist clients in Southwest Michigan (Berrien County, Cass County Van Buren County) including Saint Joseph, Benton Harbor, Stevensville, South Haven, Cassopolis, Dowagiac and Harbor Country, including Bridgman, New Buffalo, Lakeside, Sawyer, Union Pier and Three Oaks.

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685 West Main Street, Benton Harbor, MI 49022
| Phone: 269-983-0325
17656 US Highway 12, New Buffalo, MI 49117
| Phone: 269-469-5297

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