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Johnston, Allison & Hord, PA

Attorneys in Charlotte, North Carolina

Practices

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Business Succession Planning

We understand the needs of owners in what can be a delicate balance of interests.

Our experienced team of attorneys advises the spectrum of closely held businesses and their owners, ranging from single-owner small startup firms to businesses with complex structures and multiple owners, in all aspects of business succession planning including transitioning the ownership, management, and control of a business. Our clients include multi-generational family businesses, startups created by unrelated parties, and everything in between.

Many clients rely upon our full-service representation through all stages in the life cycle of a business – from startup through the closing of transition of ownership. Along the way we counsel and prepare shareholder, operating, and partnership agreements among owners; advise owners with respect to tax planning opportunities, including income, estate, and gift tax strategies; and structure succession plans appropriate to the circumstances and wishes of the owners, whether transition to family members, sale to management or outside investors, or creation of employee stock option plans (ESOPs).

We assist clients growing their businesses with acquisitions, and those transitioning their businesses through sales, in all aspects of these transactions, including negotiating, preparing, and reviewing all transaction agreements and assisting with due diligence.

We pride ourselves on coordinating with each client’s other advisors, such as investment bankers, accountants, and financing sources, whether institutional or private, to maximize the efficiency and value of each client.

Industry / Sub-Industries

  • Manufacturing
  • Distribution
  • Construction
  • Technology
  • Healthcare
  • Consumer Products / Services
  • Professional Services (law, accounting, architecture, engineering, etc.)

If you have any questions regarding Business Succession Planning, contact us here.


Please note that the above text does not constitute legal advice nor does it create an attorney-client relationship.  Should you be in need of legal services regarding a particular matter, please reach out directly to one of our attorneys. Click here for our full website disclaimer.

Representative Experience

  • Assisted owners of multi-state manufacturing business with all aspects of sale to publicly traded strategic acquirer, including providing initial advice on potential exit strategies, engaging in pre-transaction wealth transfer planning, establishing owners’ domicile in tax-advantageous jurisdiction, and ensuring compliance with environmental disclosures.
  • Counseled and advised second and third generations of closely held business related to family continuing control during generational succession (though no longer active in the business) and transfer/maintenance of employee ownership at 50%. Evaluation included full estate plan analysis and implementation for individual family owners, consideration of ESOP option and possible sale or divestiture of business segments (not chosen), incentivization of key employees via ownership, and appropriate ownership-restriction regimens for employees versus family owners.

Group Members

  • S. Kyle Agee
    S. Kyle Agee

    Partner

  • John R. Buben, Jr.
    John R. Buben, Jr.

    Partner

  • Jon T. Coffin
    Jon T. Coffin

    Partner

  • Stephen “Steve” P. Gennett, II
    Stephen “Steve” P. Gennett, II

    Partner

  • John G. Hodnette
    John G. Hodnette

    Special Counsel

  • J. “Nick” Kendall
    J. “Nick” Kendall

    Partner

  • David T. Lewis
    David T. Lewis

    Partner

  • John A. Morrice
    John A. Morrice

    Limited Part Time

  • Holly B. Norvell
    Holly B. Norvell

    Partner

  • David S. Rugani
    David S. Rugani

    Partner

  • J. Darrell Shealy
    J. Darrell Shealy

    Partner

  • N. Lucille “Lucy” Siler
    N. Lucille “Lucy” Siler

    Partner

  • Sheldon M. Stokes
    Sheldon M. Stokes

    Partner

  • View All

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Related Practices

  • Asset Protection Planning
  • Business Transactions
  • Charitable Planning & Exempt Organizations
  • Condemnation Rezoning & Land Use
  • Construction
  • Creditors’ Rights
  • Elder Law & Special Needs Planning
  • Employment Practices & Benefits
  • Estate Administration
  • Environmental
  • Fiduciary Litigation
  • Litigation
  • Mediation & Arbitration
  • Mergers & Acquisitions
  • Nonprofit Entities & Tax-Exempt Organizations
  • Professional Services
  • Real Estate Advisory Services
  • Taxation
  • Trusts & Estates

Related Industries

  • Manufacturing
  • Distribution
  • Technology
  • Healthcare

News / Events

  • News February 13, 2023
    John Morrice Retires from Johnston Allison Hord
  • News January 23, 2023
    Morry Johnston Retires from Johnston Allison Hord
  • News January 18, 2023
    Super Lawyers 2023 Recognizes JAH Attorneys
  • News January 3, 2023
    Business North Carolina’s 2023 Legal Elite Recognizes 22 JAH Attorneys
  • Articles December 27, 2022
    2022 Legal Thought Leadership
  • Events, News November 15, 2022
    Johnston Allison Hord Celebrates Morry Johnston’s 85th Birthday
  • News November 3, 2022
    Best Lawyers® “Best Law Firms” 2023 Rankings
  • Articles, Case Studies October 31, 2022
    The North Carolina Business Court Considers Business Interest Disposition Following an Owner’s Death
  • Events, News September 30, 2022
    Johnston Allison Hord Volunteers at Crisis Assistance Ministry
  • News August 18, 2022
    Best Lawyers® 2023 Recognizes JAH Attorneys
  • News July 18, 2022
    Chambers and Partners 2022 High Net Worth Guide Recognizes JAH Attorneys
  • Events, News May 27, 2022
    Kim Kirk Speaks at 44th Annual Estate Planners Day
  • News April 22, 2022
    Chambers & Partners Recognizes Meritas Law Firms Worldwide
  • Articles March 23, 2022
    What is the Difference Between Section 4(a)(2) and Regulation D?
  • News March 22, 2022
    Kyle Agee Elected as ACTEC Fellow
  • News February 23, 2022
    John Hodnette Highlighted in NCBA Article
  • News January 13, 2022
    Super Lawyers 2022 Recognizes JAH Attorneys
  • News January 4, 2022
    Legal Elite 2022 Recognizes 18 JAH Attorneys
  • News August 19, 2021
    Best Lawyers® Recognizes JAH Attorneys
  • News July 22, 2021
    Johnston Allison Hord Named in Chambers High Net Worth Guide 2021
  • News May 21, 2021
    Chambers & Partners USA 2021 Guide Recognizes JAH Attorneys
  • News December 22, 2020
    New Year’s Resolution 2021
  • Articles October 28, 2020
    Federal Tax Law Updates
  • Articles October 22, 2020
    Navigating a Force Majeure Clause
  • News September 21, 2020
    Strategic Business Planning: How to Give and Get More From Liquidity Events
  • News September 17, 2020
    Connecting During the Coronavirus Era
  • News July 9, 2020
    Johnston Allison Hord Attorneys Named in Chambers High Net Worth Guide 2020
  • Articles, News April 21, 2020
    COVID-19 Trusts and Estates Practice Update
  • News January 7, 2020
    Business North Carolina Magazine’s 2020 Legal Elite
  • News August 15, 2019
    Johnston Allison Hord Attorneys Named in Best Lawyers 2020
  • News May 18, 2019
    Johnston Allison Hord Attorneys Named in Chambers High Net Worth Guide 2019
  • News May 10, 2019
    Johnston Allison Hord Attorneys Recognized as 2019 Super Lawyers
  • News January 16, 2019
    Planned Giving Opportunities
  • News January 1, 2019
    Business North Carolina Magazine’s 2019 Legal Elite
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