Business Succession Planning Florida Owners Can Rely On

Protecting Your Business Legacy

From Clearwater Storefronts to Service Firms-keep Momentum

For many owners, the business is both livelihood and legacy. Without a plan, operations can stall while courts decide who's in charge, risking lost revenue and shaken confidence for partners, employees, and customers. Castagna Law Firm, P.A. creates succession plans that keep decisions flowing if you retire, become incapacitated, or pass away-so your team can carry on from Cleveland Street to Gulf-to-Bay and beyond.

Key Tools for Business Succession

Choose Who Leads and How Ownership Transfers

If there are multiple owners, a buy-sell agreement can dictate transfers upon death or disability and set a fair price, often funded with insurance. Family-run companies may use trusts to pass ownership in stages while training the next generation. For single-member LLCs, placing membership interests into a trust allows immediate control by a successor trustee without probate delays.

Using Trusts for Smooth Transition

Immediate Authority, Fewer Interruptions

A revocable living trust can hold your company interests and name who manages the business if you're unable to. Your successor trustee can step in the next day-payroll, vendor contracts, and client communications continue on schedule. Castagna Law Firm, P.A. aligns operating agreements and corporate records with your trust so the legal and practical pieces match.

Planning for Incapacity

Keep the Lights on When Life Happens

A durable power of attorney tailored for business allows a trusted person to sign checks, handle banking, and execute critical documents during a temporary incapacity. Board or member resolutions can also name interim managers. We prepare these instruments so your company doesn't miss a beat.

Case Study

 Two Paths, Two Outcome

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FAQ - Business Succession

Straight Talk for Owners

  • Can I name a successor in my will?

    You can, but wills go through probate, which can delay control. Titling business interests to a trust or using corporate documents provides faster, cleaner transitions. We'll recommend the right mix for your entity type.

  • What if my children don't want the business?

    Your plan can appoint a professional manager, direct a sale, or allocate insurance proceeds to beneficiaries while key employees or partners buy the company. We'll structure options that keep value intact and relationships clear.

  • How are taxes handled when ownership changes at death?

    Tax outcomes depend on entity type and valuation. We coordinate with your CPA to plan basis, elections, and timing so transfers are efficient and well-documented. The earlier we plan, the better the results.

Ensure Your Business Lives On

Continuity Starts With a Conversation

Call 727-446-6699 to meet with Castagna Law Firm, P.A. about business succession planning in Clearwater, Largo, Dunedin, and the greater Tampa Bay area. We'll craft documents that protect your team and the enterprise you built.