Business Succession Planning

Business Succession Planning in Troy

Protecting What You’ve Built with a Plan That Actually Works

A business succession plan determines what happens to your company when you retire, become disabled, or pass away. Without one, the people you leave behind face unclear ownership, potential disputes, and a business losing value at exactly the wrong moment. At Veprauskas Law, PLLC, Attorney Victor Veprauskas brings a background in litigation and commercial law directly to this work, structuring plans aimed at preventing the disputes that most commonly derail a business transition.

Business succession planning is part of our broader estate planning practice, which also covers wills and trusts, elder law, and trust administration. We work with closely held business owners and family businesses throughout Troy and Rochester.

Ready to start a conversation? Call us for a free consultation at (248) 290-8306.

What Troy Business Owners Get from Working with Us

Attorney Veprauskas personally manages every case and personally answers his phone. There’s no handoff to a paralegal when you have a question about your plan. That level of access matters in succession planning, where the details of your ownership structure, family dynamics, and long-term goals shape every decision. His litigation and commercial law background directly informs how we structure buy-sell agreements, ownership transfer arrangements, and entity structures, reducing the friction points that can lead to disputes between co-owners or family members after a transition.

A few things that set our approach apart for Troy business owners:

Full trust funding: When a trust is used to hold or transfer business interests, we take the extra step of fully funding it so the plan functions as intended rather than sitting incomplete on a shelf.
Estate plan integration: We coordinate your business succession plan with your personal estate planning documents so the two work together without gaps or contradictions.
Flexible meetings: We meet in-office, virtually, or at your location if traveling is difficult.

Attorney Veprauskas has been selected to Michigan Super Lawyers for multiple consecutive years, a distinction the program awards to no more than five percent of attorneys in the state.

Schedule a Free Consultation

If you’re a business owner in Troy or Rochester thinking about what happens to your company when you’re no longer running it, a conversation with Attorney Veprauskas is a helpful first step. We offer a free initial consultation with no obligation. We can listen to where your business stands, what your goals are, and what a practical succession plan looks like for your situation before you commit to anything.

Call Veprauskas Law, PLLC at (248) 290-8306 to schedule your free consultation.

What Business Succession Planning Covers

Business succession planning is the process of preparing for the future transfer of ownership and management before circumstances force the decision. The triggering events vary: retirement, disability, death, or a decision to sell. A good plan addresses all of them rather than leaving outcomes to chance or state default rules.

The core components most plans address include:

Buy-sell agreements: Legally binding agreements that govern how an ownership interest is transferred when a triggering event occurs, including who can purchase it, at what price, and on what terms.
Business valuation: Establishing how the business will be valued at the time of transfer, which directly affects buyout pricing, taxes, and disputes.
Ownership transfer structures: Trusts, gifting programs, and entity restructuring can all play a role depending on the type of business and the intended recipients of the ownership interest.
Tax planning for business transfer: Coordinating the transfer to reduce income, gift, and estate tax exposure, which can otherwise take a significant portion of a business’s value.

Without a plan, a business faces a higher risk of co-owner or family disputes, operational disruption, and loss of value at the moment of transition.

Succession Planning & Oakland County Business Disputes

Troy sits in Oakland County, where the 6th Judicial Circuit Court operates a dedicated Business Court division. Established under Michigan Public Act 333 of 2012, this division handles commercial disputes, including disagreements between a business and its owners, shareholders, members, or managers. A well-structured business succession plan addresses the ownership transfer issues and governance ambiguities that often produce those disputes in the first place. We integrate each client’s succession plan with their personal estate planning documents, including wills and trusts, so the two work together without gaps that can surface at exactly the wrong time.

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