California Family Corporation Attorney
Family-owned businesses often operate with less formality than other types of businesses. This can create problems down the road if there are no agreements in place to cover contingencies such as a family member wanting to leave the business. At the Bez Law Firm, P.C. in Sacramento, our lawyers can help put your family business on a solid foundation.
Family Corporations and Partnerships
Organizing your business as a family corporation or family limited liability company (FLLC) can provide tax advantages and protect your family members from personal liability if the business entity is sued. It can also give your family more flexibility for business succession planning, business sales and bringing in additional partners.
The Internal Revenue Service closely scrutinizes deductions and reported income of family corporations and limited liability companies. To preserve your tax advantages and corporate shield, it is important to get sound legal advice during the startup of your business and after.
Family Business Agreements
Many people assume that formal business agreements are not necessary among family members. Then something happens such as a divorce or a family member wanting to strike out on his or her own. By planning for events like these, your family can avoid disputes and litigation costs later on.
Our lawyers draft buy-sell agreements, partnership agreements and non-compete agreements that can help protect your business and your family peace. Our lawyers also represent family-owned businesses and individual family members in litigation when an issue arises and there are no guiding agreements.
For More Information About Family Business Law
For more information or to schedule a free initial consultation with our Sacramento family business attorneys, call 916-643-9624 or fill out the contact form on this website.
