Legal-Ease: Two principles in business succession and estate planning

Lee R. Schroeder is an Ohio licensed attorney with Schroeder Law LLC in Ottawa. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at (419) 523-5523. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.

Business succession and estate planning are often difficult challenges as each situation is so unique to each family and business. To help clients, Lee has created two primary principles he’d like them to consider while they undertake business and estate planning.

First, Lee believes that mom and dad are always right. Second, he believes that family businesses can remain viable for generations while still treating non-business family members fairly.

Hard work is seldom a problem for the people of northwest Ohio. People here only really struggle when they face challenges that are individualized to them that do not have readily apparent solutions.

A notable challenge for many people in our region is business succession and estate planning because nobody’s family or business is the same as other people’s families or businesses. These challenges are sometimes deepest when it comes to farms because farming often evokes people’s deepest passions and love, even in times of unquestioned discouragement.

Read more about Lee’s two principles he uses in business succession and estate planning in the Lima News here: Legal-Ease: Two principles in business succession and estate planning

Source: LimaOhio.com, “Legal-Ease: Two principles in business succession and estate planning,” by Lee R. Schroeder, February 6, 2016

Posted in Business Law, Estate Planning and tagged , , .