Our Business and Estate Planning FAQs
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How do I know if I should sell my company’s assets or its stock/membership interests?
That depends on tax and liability factors. Buyers often prefer asset purchases to avoid past liabilities, while sellers typically prefer stock or membership interest sales to benefit from capital gains treatment. We’ll help you evaluate both structures and negotiate terms that protect your after-tax proceeds.
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What documents should I have ready before meeting with a potential buyer?
Buyers expect to see:
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Your organizational documents (Articles, Operating Agreement, Bylaws)
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Financial statements and tax returns for at least 3 years
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Key contracts (leases, customer, vendor, and employment agreements)
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Intellectual property registrations and permits
We’ll help you organize these into a professional due diligence package.
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When should I contact an attorney if I’m thinking about selling my business?
Ideally, 12 to 24 months before you sell. Early legal planning allows time to clean up corporate records, resolve ownership or liability issues, and structure the sale for the best tax outcome. The earlier we’re involved, the more leverage you have when negotiating with buyers.
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What happens to my employees when I sell my business?
It depends on the structure of the sale and your transition plan. We'll help you navigate employment law issues and structure agreements that are fair, compliant, and clear for all parties.
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What are the tax implications of selling my business?
The structure of your sale impacts capital gains taxes, depreciation recapture, and more. We coordinate with your CPA or tax advisor to help you create the most tax-efficient exit.
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Do I need a lawyer to sell my business?
Absolutely. A business sale is a major transaction with binding legal consequences. From structuring the deal to drafting contracts and minimizing post-sale liability, legal guidance protects your interests and prevents costly mistakes.
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What’s the difference between an asset sale and a stock sale?
In an asset sale, specific assets are sold and liabilities may be excluded. In a stock sale, the buyer purchases the entire company—including its obligations. Each has tax and legal implications. We’ll help you choose the best fit.
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When is the right time to sell my business?
The best time to sell depends on your personal goals, business performance, and market conditions. Ideally, you should start planning 6–24 months in advance to maximize value and minimize risk.
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Does a Will avoid Probate in Missouri?
Answer: No. A will is guarnteed to go through probate. Your Executor is required to file your Will with the Probate Court within 1 year of your death. You can avoid Probate in Missouri by using a Revocable Trust.
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How Much Can I Give Away Tax Free in 2025?
In 2025, each person can make a tax free gift of $19,000.00 in value per donee. Accordingly, a husband and wife could gift $38,000 to each of their children as a tax free gift in 2025. As a reminder, if you make a gift by check, the check needs to be deposited and cleared prior to the end of the year.