Business Planning

Roberta A. Schreiber, P.C. has had more than twenty years of experience working with small business owners, in establishing and maintaining closely-held (private) corporations, partnerships, and other business entities, providing the following services:

• Advice in Choosing the Correct Business Entity and Funding your New Business
   
• Preparation of Articles and Certificates of Organization, Corporate Minutes, Operating Agreements, Contracts, Leases, Promissory Notes, Security Agreements, and other documents necessary to establish, fund and maintain C-Corporations, Sub-Chapter S Corporations, General Partnerships, Limited Partnerships, LLC's, LLP's, and Family Limited Partnerships
   
• Drafting and implementing Buy-Sell Agreements, Cross-Purchase Agreements, and Employment Agreements between stockholders and partners to provide for the management of the business after the disability or retirement of a stockholder or partner, and the orderly business succession after the death of a stockholder or partner.
   
• Planning to pass on a business to younger family members, including gifting programs of stock and partnership interests and providing the funds to pay Estate Taxes
   

The first and most critical step in establishing a new business is choosing the business entity that is right for you, other family members, and your business partners. Today, there are many more choices than in the past.  Massachusetts now allows the formation of a one member LLC (Limited Liability Corporation), making it very easy for an individual to establish a new business with a minimum of paperwork and tax forms, but without losing any of the protection offered by the traditional corporation. An LLC may be a good choice if you are acquiring rental or commercial real estate and want to avoid personal liability in the event of an accident or lawsuit.  Roberta will explain the differences between the business entities that are available to the small business owner, including the differences in how the entities are funded and taxed. She will consult with your accountant and other financial advisors to make sure that the entity you choose is right for you and will prepare the necessary paperwork to establish and maintain your business properly.  If necessary, she will refer you to qualified professionals for assistance with obtaining a business loan, the right insurance policies, and accounting and financial planning.  If you have business partners, she will assist you in drafting the agreements that will provide for the management and orderly transition of the business after the disability, retirement, or death of a stockholder, partner, or keyperson.

If you want to pass on your business to younger family members, Roberta will make recommendations for minimizing estate taxes and providing funding for estate taxes, so that younger family members will not be forced to sell the family business.  Planning options include yearly gifts of stock or partnership interests to those family members involved in the business, forming a Family Limited Partnership, and buying life insurance to pay for the estate taxes that will be due as each stockholder or partner dies.  If you are thinking about starting your own business, taking on new business partners, or are concerned about passing on your business to your children, please contact us to schedule an initial consultation.