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Family Business Law |
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Organization: Starting with the creation of the business, our attorneys, after giving consideration to the various issues - tax, personal liability, access to capital markets, transferability of interests - advise on how to organize a business. Structure: Once the decision is made of how to do business (i.e., corporation, partnership, limited liability company), our attorneys advise families on how ownership should be structured - individually or nominally, through the use of trusts. Management: Our attorneys serve as corporate counsel for numerous family and closely-held businesses and advises on the day to day operations of their business. This may include tax planning considerations, drafting employment contracts or non-compete and confidentiality agreements between the business and its employees, preparing and reviewing leases, structuring acquisitions, setting up compensation plans, serving as an advisor to the Board of Directors, or providing litigation support. Succession of Business: Recognizing that for many individuals, a family and closely held business is a large part of their estate and is intended to benefit only family members, our attorneys regularly advise business owners on how to structure stockholder agreements to provide for the orderly disposition of ownership interests in the event of death, disability or retirement. In addition, we assist with the preparation of agreements relating to stock restrictions and other arrangements that preserve family control. Our attorneys are experts in carefully integrating the business succession plan with the estate plans of the various individuals that comprise the business, so that both business continuity and family harmony are preserved. Owners of closely held businesses have unique problems and opportunities. Of particular concern for most business owners is planning for the transfer of ownership and control of the family business from one generation to the next. We assist our business clients in transferring ownership and control of their businesses using the most efficient methods, including restrictive shareholder and partnership agreements, reorganizations of corporations, and a variety of other arrangements. Integrating valuation discount and estate freezing techniques can save significant tax dollars for the family. Our capabilities enable us to assist in analyzing alternatives and in designing the best plan for the family business owner. Whatever the business owner's particular goals may be, we work to ensure that the plan implemented is practical, flexible, and consistent with the owner's goals and the value of the business. |
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Our firm's culture is a unique blend of the conservative and entrepreneurial. We pride ourselves on our professional work environment, our dedication to the highest level of performance, and our commitment to integrity in the practice of law. We recognize that long-term relationships with clients remain an important anchor in the practice of law, and our attorneys are encouraged to nurture client relationships.Contact us
Gunderson, PalmerNelson & Ashmore , LLP
440 Mt. Rushmore Road
Rapid City, SD 57701
P: 605.342.1078
F: 605.342-9503
E: Click here to email us
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to be formal legal advice nor the formation of a lawyer/client relationship.
Phone ( 605) 342-1078 . Fax (605) 342-9503 . Gunderson, Palmer, Nelson, & Ashmore, LLP
440 Mt. Rushmore Road . Rapid City, SD 57701
Phone ( 605) 342-1078 . Fax (605) 342-9503 . Gunderson, Palmer, Nelson, & Ashmore, LLP
440 Mt. Rushmore Road . Rapid City, SD 57701
Attorneys licensed to practice in South Dakota, North Dakota, Nebraska, Wyoming, Minnesota, Montana, Colorado,
as well as Rosebud Sioux, Oglala Sioux, Lower Brule Sioux & Cheyenne River Sioux Tribal Courts.
as well as Rosebud Sioux, Oglala Sioux, Lower Brule Sioux & Cheyenne River Sioux Tribal Courts.