Dear Business Owner,

You’ve built a successful business that has provided for your family and created a legacy you’re proud of. But when the time comes to pass it on to your heirs, the very thing you worked so hard to create could become a source of conflict, resentment, and division. Without a clear plan in place, the business you built to bring your family together could end up tearing them apart.

What’s at Stake?

Picture this scenario: You have multiple children, each with different skills, interests, and involvement in the family business. One child has been working alongside you for years, while another has chosen a different path. When it’s time to divide the business assets, how do you ensure that each of your children feels they’ve been treated fairly? If you leave it to chance, you risk sparking jealousy, infighting, and even legal battles that could destroy your family’s harmony—and the business itself.

Without a solid plan, your children might end up fighting over who gets what. The child who worked in the business may feel entitled to a larger share, while others may feel slighted if they receive less. This kind of discord can lead to costly and bitter disputes, draining your estate and damaging relationships that may never fully recover. The business you poured your life into could be dismantled, sold off, or run into the ground—all because there wasn’t a clear, fair strategy for dividing the assets.

The Reality of Dividing Business Assets

The truth is, dividing business assets among heirs is one of the most challenging aspects of estate planning. It’s not just about dollars and cents—it’s about feelings, expectations, and the future of your family. The stakes are high, and the consequences of getting it wrong can be devastating. Your family’s legacy, financial security, and personal relationships are all on the line.

Many business owners make the mistake of assuming their children will “figure it out” after they’re gone. But the reality is, without clear guidance and a structured plan, even the closest families can be torn apart by disputes over business assets. The solution is to plan ahead, create a fair and transparent strategy, and communicate that plan clearly to your heirs.

The Solution: Strategic Planning for Fair Division

This is where Bascom Law comes in. I’m Mike Bascom, and I’ve spent over thirty years helping business owners like you navigate the complexities of dividing business assets among heirs. I understand the emotional and financial challenges involved, and I’m here to help you create a plan that ensures fairness, preserves family unity, and protects the future of your business.

At Bascom Law, we start by getting to know your family and your business. We don’t just hand you a template and send you on your way. We take the time to understand each heir’s role, expectations, and concerns. We ask the tough questions—questions you might not have considered—and help you think through the implications of each decision.

Here’s How We Help You Keep the Peace

First, we explore options for dividing the business assets in a way that reflects each heir’s involvement and contribution. This might mean equalizing the inheritance by giving the child who worked in the business a larger share while compensating others with different assets or financial arrangements. We also consider buy-sell agreements that allow one child to purchase the business interest from siblings, ensuring a smooth transition of ownership.

Next, we help you create a clear and legally binding plan that leaves no room for confusion or disputes. This can include setting up trusts, creating detailed wills, or drafting agreements that specify how the business will be managed and divided. Our goal is to make sure your wishes are carried out exactly as you intend, with fairness and transparency.

Finally, we encourage open communication with your heirs. By discussing your plan with them ahead of time, you can address any concerns, manage expectations, and reduce the likelihood of conflicts down the road. We’re here to guide these conversations, ensuring they’re productive and respectful.

Don’t Leave Your Family’s Future to Chance

You’ve worked too hard to let the division of your business assets become a source of pain and conflict for your family. The time to act is now. Don’t wait until it’s too late to create a plan that protects your family’s unity and your business’s future. At Bascom Law, we’re here to help you develop a strategy that ensures fairness, preserves relationships, and secures your legacy.

Call my office today at 770-285-5493 to schedule a consultation. Let’s sit down together and start planning for the future of your business and your family. Your legacy deserves the best protection, and at Bascom Law, that’s exactly what we offer.

Sincerely,

Mike

Mike Bascom
Bascom Law, PC
Estate Planning & Elder Law