Morrison Law Group, PLC

Estate Planning | Business Planning

Attend a Free Workshop SCHEDULE A CONSULTATION
(504) 831-2348
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • Pre Consultation Form
    • Reviews
      • Review Us
    • Speaker Connection
  • Estate Planning
    • Asset Protection
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • Probate and Successions
    • SECURE Act
    • Special Needs Planning
  • Medicaid Planning
    • Medicaid & Nursing Home Planning
    • Free Medicaid/Long-Term Care Calculator
  • Business Planning
    • Business Planning
    • Business Succession Planning
    • Family-Owned Businesses
    • Small Business Medicaid Planning
  • Resources
    • Estate Planning Resources
      • Estate Planning Definitions
      • Estate and Gift Tax Figures
      • Estate Planning Reports
      • Estate Planning Checkup
      • Is Your Estate Plan Outdated?
      • Incapacity Planning Definitions
    • Elder Law Resources
      • Are You A Caregiver?
      • Coping With Alzheimer’s
      • Guardianship & Conservatorship
      • Hospice Care
      • Elder Law Reports
      • Elder Law & Medicaid Definitions
    • Newsletters
    • Trust Administration & Louisiana Succession Resources
      • Bereavement Resources
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
    • Special Needs Resources
    • Frequently Asked Questions
      • Estate Planning FAQ’s
      • Trust Administration & Probate Frequently Asked Questions
      • Legacy Wealth Planning FAQ’s
      • Frequently Asked Questions for Families Without an Estate Plan
  • Blog
  • Contact Us

Business Succession Planning with Attorney Chip Morrison

January 21, 2020 by Ronald "Chip" Morrison

Click Here and Watch Attorney, Chip Morrison, explain

Hi, I’m Chip Morrison with Morrison Law Group. If you own a successful business, chances are you have some idea of how you want your business to proceed after you’re gone.

Despite this, many small business owners are legally unprepared in the case of their death, disability, or in the case of their retirement.

It is imperative that business owners above a certain age address succession planning, so that their business can continue to thrive in accordance with their wishes. It is entirely possible to set up a business succession plan while the owner still retains control of the business and ownership in that business. The owner may initiate a transfer to an eventual successor long before leaving that business.

The earlier a business owner begins transferring ownership to an eventual successor of that business, the more likely it is for the succession plan to be a success. We have found this to be true, both on an emotional level and a financial level.

Truthfully, business succession plans, they are not one size fits all. Transferring the ownership of a business can be extremely confusing without the guidance of a qualified business succession attorney.

If you, or anyone you know have any questions on how to sell a business, how to buy into a business, how to enter into any kind of planning for the eventual transfer of a business, please have them call the law firm of Morrison Law Group. Thank you.

  • Author
  • Recent Posts
Ronald
Ronald "Chip" Morrison
Ronald “Chip” Morrison, Jr. is a Board Certified Estate Planning Law Specialist as certified by the Louisiana Board of Legal Specialization. He is admitted to practice before all State courts in Louisiana. He is also admitted to practice before the United States District Court for the Eastern and Middle District of Louisiana.
Ronald
Latest posts by Ronald "Chip" Morrison (see all)
  • Estate Planning for Surviving Spouses - June 26, 2022
  • Helping Your Parents Age Gracefully - June 13, 2022
  • The Hidden Benefits of Home Ownership - June 10, 2022

About Ronald "Chip" Morrison

Ronald “Chip” Morrison, Jr. is a Board Certified Estate Planning Law Specialist as certified by the Louisiana Board of Legal Specialization. He is admitted to practice before all State courts in Louisiana. He is also admitted to practice before the United States District Court for the Eastern and Middle District of Louisiana.

Morrison Law Group, PLC

Subscribe Our Blog

Address

Morrison Law Group, PLC
3813 N Causeway Blvd
Suite 200,
Metairie, LA 70002
Phone: (504) 831-2348

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 3:00 PM

Evening appointments available upon request.

Map

MAP
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • RSS
MORRISON LAW GROUP

© 2022 American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy