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Fort Lauderdale Stock Assignments Lawyers

Wilton Manors Testamentary Stock Transfer Lawyer

Broward County Testamentary Stock Transfer Attorneys for Business Succession Planning in Pompano Beach

When you begin estate planning and business succession planning, you may have concerns over transferring stocks you own. Whether you are the owner or co-owner of a business or simply an investor, it is important to plan for how you will one day pass on any stocks you still own. In business succession planning, you will likely need to create a contract allowing your partners or family members to assume control of your stock. For personal investments, there are a variety of estate planning tools our attorneys can help you choose between.

The Law Office of Miller & Miller, P.A. is experienced in handling the transfer and assignment of stocks, whether for testamentary or succession purposes. Our lawyers create customized estate plans and succession plans that best suit the individual needs of our clients, their families, and their businesses.

Oakland Park Business Protection Attorneys for Stock Transfer Agreements

When you have put the hard work into building and running a business, you likely have hopes for the company to become a long-lasting part of your legacy. This can be achieved through succession planning. If yours is a family business, you may use what is called a "retention plan" in order to smoothly transfer ownership and control of the company to your relatives one day. Depending on your preferences and goals, there are several ways to go about this, such as by placing company stocks and other ownership interests in a trust.

For other businesses, buy-sell planning is typically used. This is a contractual agreement among interested parties - typically co-owners or key staff members - that offers them first right-of-refusal to purchase your shares of stock at the time they become available for sale, which may be upon your death, incapacity, or retirement. These agreements protect businesses by providing for a seamless transition in company leadership and ownership.

Each business, each retention plan, and each buy-sell agreement will be completely unique. At the Law Office of Miller & Miller, P.A., we strive to help our clients build lasting businesses by planning for future stock assignments.

Law Firm in Wilton Manors for Testamentary Stock Assignments

When you have made wise investments during your lifetime, you may want to leave the stocks you own directly to your loved ones. In Florida, there are a number of ways this can be done - wills, varying types of trusts, and transfer-on-death registrations are all options. Each means of transferring stocks in an estate plan comes with benefits and drawbacks.

Leaving stocks in a will necessitates probate, but this may decrease your beneficiaries' capital gains tax liability. When stocks are transferred by will, there is a step-up in the tax basis to the stocks' value on the date of your death, rather than the date you purchased them. This could result in significant savings, but probate could be too big of a drawback in some cases.

Using any type of trust to assign stocks can help you avoid probate entirely, but doing so may not offer the same tax benefits. Trusts can also carry asset protection features that are unavailable when a will is used. Our attorneys will work closely with you to determine which vehicles of testamentary stock transfer make sense as a part of your comprehensive estate plan.

Contact a Broward County Stock Assignments Attorney

The Law Office of Miller & Miller, P.A. is dedicated to helping our clients create long-term stock assignment plans to keep themselves, their businesses, and their families protected. Our attorneys are skilled in both estate planning and business succession planning. Contact us at 954-981-9301 to schedule a free consultation. We serve clients throughout South Florida in Pompano Beach, Fort Lauderdale, Wilton Manors, Oakland Park, and Broward County.

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