It’s been called the greatest wealth transfer in history: nearly $124 trillion in assets is set to change hands through 2048, according to estimates. Much of this wealth will transfer when businesses change ownership.
This CLE course provides attorneys with a comprehensive overview of the critical legal issues involved in business succession planning. Led by attorney Patrick A. Klingborg, the session focuses on planning strategies that address ownership transitions triggered by retirement, disability or death. The course explores both external and internal succession pathways, including the use of Buy-Sell Agreements and succession planning for solo practitioners. Participants will gain insights into ethical considerations, tax implications and practical documentation to minimize disruptions and preserve business value. Real-world examples and relevant statutes are highlighted throughout to ensure attorneys are prepared to advise clients with clarity and legal precision.
Learning Objectives:
• Identify and evaluate common triggers and motivations behind business succession planning
• Distinguish between internal and external succession strategies and understand their legal implications
• Draft or assess Buy-Sell Agreements with attention to valuation, funding, and exit structures
• Advise clients on tax, ethical, and operational issues during ownership transitions
• Develop contingency plans for businesses lacking a formal succession strategy
Patrick Klingborg helps clients with starting a business, investing in a business, buying or selling a business (M&A) and a wide variety of major commercial transactions. He received his Bachelor of Arts from UC San Diego and his law degree from University of San Diego School of Law.