We also actively advise owners of these entities regarding a wide range of transactions. Many closely held corporations have elected S Corporation status under the Internal Revenue Code, and our attorneys are familiar with the special problems affecting these corporations and their shareholders. Typically, our attorneys are active in the preparation of minutes, contracts, and agreements relating to planning for the succession of ownership in a closely held business, as well as providing tax advice to maximize the benefits of ownership and minimize the effect of taxation on succeeding generations of ownership.
In many closely-held businesses, our attorneys are actively involved in estate planning for family members, which enables a comprehensive approach to advise family-owned businesses.
