The Closely-Held Business Committee of the Business Law Section of the Pennsylvania Bar Association, which is chaired by our own Paul Rushton, presented a trio of seminars at the Business Law Institute in Philadelphia last Friday.
The presentations addressed the options available to closely-held business owners who are approaching retirement. Our own Lee Piatt, who is a member of the Committee, gave a presentation focused on the succession planning techniques that are available to a closely-held business owner who desires to transition ownership and/or management of his or her business to family members and/or existing employees of the business.
A second presentation, given by Paul, highlighted the issues to be addressed by a closely-held business owner in preparing for, and ultimately consummating, a sale of his or her business to an outside party.
The final presentation identified the advantages of an ESOP for a retiring closely-held business owner.
If you are a closely-held business owner who is approaching retirement, please call Paul or Lee to discuss your options. Paul can be reached at prushton@rjglaw.com or 570-826-5623. Lee’s contact information is lpiatt@rjglaw.com or 570-826-5674.