The proper formation and organization of a small business is necessary to ensure that the business is in compliance with applicable Ohio law and that the type of business entity chosen by the client will achieve the intended goals of the client. In addition; legal planning for the addition or removal of owners, for the proper allocation of the powers and obligations of the owners and for the succession of the business, whether through the death, resignation or incompetence of an owner or through a sale of the business is essential to making the business function properly. Generally, a team approach to the formation and compliance of the business with Ohio’s business laws and the federal and state tax regulations works best to meet the client’s needs. We always work with the certified public accountant or tax advisor selected by the client to assist the clients in choosing the best type of business entity for his or her purposes and then to operate that business to ensure that those business purposes are achieved.
The succession of a business from one generation to the next is an important issue for all family owned businesses. Proper succession planning is always a necessary part of a business owner’s estate plan as well.
The attorneys at Stoneman Law Office also advise business clients on business issues such as employee handbooks, policies and all issues that small business owners encounter in the operation of their businesses.
Attorney Kathy Stoneman has been assisting business clients for over thirty years.