At Erin Patterson Law, PLLC, we are fortunate to work with some of the most successful entrepreneurs in North Carolina and South Carolina.
We thrive at the intersection of estate planning techniques and business law services. For this reason, we intentionally reserve our business law offerings for entrepreneurs who need to address or have already addressed some aspect of their estate planning with our firm. Our team is invested in helping our estate planning clients who are also business owners whether they are just starting out, growing and expanding, or planning to pass the business to the next generation.
We understand that, just like every family, every business is unique, and with Charlotte's growing markets, our clients' opportunities and goals are ever-changing. Our firm, composed of experienced attorneys and legal professionals, will work alongside you to learn your objectives and challenges, and partner with you in applying proven legal strategies to move your business forward.
With a focus on providing customized techniques, tailored to your company's situation, our firm is equipped and excited to provide the following services to our estate planning clients who are also business owners, directors, shareholders, and representatives.
- Business formation
- Corporate record review and preparation
- Assistance with Secretary of State filings
- Preparation of operating, shareholder, or partnership agreements, including partner or shareholder buyouts
- Asset protection and tax minimization strategies
- Succession planning strategies for transitioning your business to the next generation
- Wealth planning before or after the sale of a business
- Coordination with advisors, such as accountants and financial advisors, to maximize business strategies
Frequently Asked Questions
My business idea is brand new, do I really need an attorney to help set up the legal structure of the business?
Although every business is different, having the proper legal documentation in place from the outset of your business (such as Operating Agreements, Shareholders Agreements and Bylaws, and Stock Certificates) will allow you the proper legal structure to grow and govern your business with the confidence that your company is prepared to face the legal road ahead. No business owner wants to deal with having to go back and set-up a legal structure for their company while in the process of selling the business, or when negotiating new locations, partners or opportunities. Let us help you choose and implement the best company structure for you from the start so that you do not have to worry about these issues in critical times for your business.
I've spent my life building my company and I want to keep it in the family, but I'm not sure how best to transition it to the next generation of owners. Can I still keep some control if I give up my ownership?
When you've put years of time and effort into growing your business, the question of who will keep it thriving in the future can be intimidating. Thankfully, there are multiple methods and strategies available to consider which allow for varying degrees of control and timeline speed for the transition of your business to another. Planning ahead for your goals and your family and employees' needs allows for maximized tax and company structural benefits, while helping to relieve the stress of the “what if?”
I want to sell my business; how might this impact my estate plan?
Selling a business is a multi-step process that begins long before you start seeking an actual buyer. Our firm would be happy to discuss with you the most common steps of the business sale process, along with the different types of sale structures available which may be most advantageous to you in light of your estate planning goals. Whether you hope to sell immediately or in the near future, we are happy to advise you on your options and the steps you can take to maximize your interest where you are now, and as you approach closing the chapter on this component of your professional career. It is worth noting that significant tax-savings and wealth-transfer goals can be achieved with proper estate planning implemented prior to the sale, so early planning discussions are encouraged.
Have you worked with our team on your estate planning, and are you considering opening your own business? Or are you not sure if the corporate documents you currently have match your business goals? Are you approaching a sale or purchase of a company? Our firm is ready to work with you to address your business needs, so please contact us to schedule a meeting with a member of our team.