Sidney Turner, LLC has significant experience serving the special needs of closely-held businesses. We formulate plans for the transfer of ownership and control of the business from one generation to the next with the intent of minimizing taxes and preserving corporate assets. We prepare restrictive shareholder and partnership agreements and corporate reorganization plans, solve liquidity issues for tax obligations and structure stockholder buy-sell agreements.

Consider these poignant facts:

    Nearly 40% of family businesses in America will be passing the reigns to the next generation over the next 5 years. (Business Week, August 11, 2003)                        

    Only 40% of family owned businesses survive to the second generation, 12% to the third, and 3% to the fourth. (Boston Globe, May 4, 2003)

All too often, business owners do not plan ahead. Crises such as serious illness, disability or death can create great upheaval and jeopardize the best interests of a company and the people who own it. A carefully considered succession plan should be thought of as another kind of insurance policy essential to the continuation of any business, regardless of its size and structure.