Elmore Celeste

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The firm's reputation for providing quality service reflects the highest standards of professionalism. These high standards coupled with responsive, personalized service and specialized staff spell the difference between this firm and the rest.

The family dynamic complicates the whole transition because of the relationships and emotions involved. Most people are not comfortable discussing topics such as aging, death, and financial affairs. Comfortable or not, succession planning should be a priority for any family business considering that more than seven out of ten family-owned businesses fail to survive the transition from founder to second generation, typically falling prey either to estate taxes or family discord - or both. Developing and implementing a well-designed succession plan is essential to the survival of a family business from one generation to the next.

Perhaps your company is experiencing problems with a client or vendor which seems destined for court. In many cases, early intervention from an attorney familiar with the issue may head off litigation and help reach an amicable accord. In those cases, where litigation is truly in the cards, you will be provided with a referral to an attorney with experience in the area of controversy.

Minimizing the tax bite. The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred.

The starting point for avoiding a cash crisis is by developing a cash flow projection. Developing both short-term (weekly, monthly) cash flow projections to help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs are necessities for any business.

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