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Our Offices

  • Vernon Office

    Address

    244 State Hwy 94
    Vernon, New Jersey 07462

  • Wayne Office

    Address

    73 Mountainview Blvd
    Wayne, New Jersey 07470

    Phone

    973-764-1633

  • Pompton Lakes Office

    Address

    58 Colfax Avenue #1
    Pompton Lakes, New Jersey 07442

  • Hackensack Office

    Address

    41 Main Street
    Suite 2
    Hackensack, New Jersey 07601

    Phone

    973-764-1633

  • Nutley Office

    Address

    345 Centre Street
    Suite 2
    Nutley, New Jersey 07110

    Phone

    973-764-1633

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Ratings & Reviews

  • lawyers
    5.0/5.0

    I highly recommend Mr. Zimmermann as an attorny. I recently purchased an investment property and boy was he helpful. He was easily available, very clear in explaining various concepts, laws and regulations, and provided very helpful tips o...
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    — Client

Experienced New Jersey Attorney Prepares Business Succession Plans

Firm helps business owners tackle operational and estate planning challenges

Creating or growing a business is an imposing challenge. If you have done so successfully, you deserve to control how your ownership interest is distributed when you step away. Even if you’re not even thinking about retiring, you should prepare for the possibility that an accident, illness or financial setback may necessitate a quick transition in management and/or ownership. In the event of your untimely death, failure to develop a sound business succession plan could put your heirs in a difficult financial situation. At the Law Offices of James C. Zimmermann, we have the business acumen and estate planning knowledge to develop sound personalized strategies for New Jersey clients. Whether you intend to pass your business on to loved ones or you want to create a contingency framework by which a colleague could take over in an emergency, our firm can help.

Personalized guidance for owners looking to shift assets to family members

Many owners of privately held businesses dream of leaving a legacy for their loved ones. However, passing ownership of a company through one’s estate could leave heirs struggling with taxes. When working with clients on business succession strategies, Attorney James C. Zimmerman analyzes whether your company’s value would exceed the pertinent estate tax exemption. If there is a possibility of this happening, we can explore options such as placing the company into a trust, transferring ownership shares during your lifetime and shifting business assets to reduce the potential tax burden.

Insightful counsel to help businesses prepare for disruptive events

Responsible ownership of a business requires preparations for reasonable contingencies. Regardless of your plans for the future, you should implement a program that clearly delineates who will own and run your company if you cannot carry on your duties. In situations where ownership is shared, you might wish to execute a buy-sell agreement that gives one owner the ability to buy the other one’s stake before it is offered to outsiders. We can also list specific events that can trigger a temporary or permanent shift in operating authority.   

Early attention is the key to a proper succession plan

Running a business from day to day might seem to leave little time for future planning. However, creating a succession plan is more than a business challenge, especially if you’re looking to keep things within the family. It’s important to have candid conversations well in advance of the possible turnover to determine if your chosen successor wants to assume control. Attorney James C. Zimmerman understands the challenges associated with running a small business and can help you avoid common pitfalls as you develop a comprehensive succession strategy.

Contact a New Jersey lawyer for a free consultation about business succession planning

The Law Offices of James C. Zimmermann helps New Jersey clients develop effective business succession plans. If you’re looking to create a solid foundation for your company’s future, please call 973-764-1633 or contact us online. Our offices are in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.