Business & Succession Planning

You have worked hard all of your life in order to build a successful closely-held business. Now what?

Burr & Forman assists clients and prospective business clients in planning and implementing business and tax strategies, at all stages of business, including:

Formation/Capital Contribution

  • Does it make sense to form a limited liability company or to incorporate? 
  • How is the company going to be capitalized? Loans from banks or other lenders? Sales of stock or other equity interests? 
  • How does an established company raise more capital? Recapitalizations or sale leaseback transactions? Additional sales of stock or other equity interests?

Sharing of Profits 

  • Do any employees get "sweat equity"? 
  • Are executive and/or equity based compensation arrangements such as bonus and performance based compensation plans appropriate? What about stock option plans? Stock purchase plans?


  • How and when will money be distributed to the owners? 
  • Will any owners receive priority distributions? 


  • Who should be directors or managers of the company? Officers?
  • Are employment agreements, shareholder agreements, partnership agreements or operating agreements appropriate?

Exit Strategy/Succession Planning. 

    If your exit strategy is to transfer your business, what do you need to do to: 
    • Sell your business to your business partner? 
    • Sell your business to a third party? 
    • Transfer the business to employees? 
    • Transfer the business to the next generation?
    • Accomplish some combination of the above?
    When you transfer ownership,
    • Do you retain any control? 
    • Is your family taken care of? 
    • Are there any employee, lender, supplier, and/or customer issues? 

These are just a few of the issues that must be addressed when one approaches the subject of business & succession planning. 

At Burr, we take a team approach to business & succession planning, assigning attorneys from multiple disciplines to a client in order to achieve the most comprehensive and cost-efficient representation possible. Our inter-disciplinary team includes seasoned attorneys practicing in the areas of:

Contact one of our team members or read our Business Succession Blog to learn more about how we can help you with all of your Business Succession Planning needs.

Our Attorneys

Matthew Barnes
Partner ~ Birmingham, Alabama|
(205) 458-5120
(205) 278-4597
Edward Brown
Partner ~ Atlanta, Georgia|
(404) 685-4292
(404) 214-7947
Sean Dudley
Partner ~ Mobile, Alabama|
(251) 345-8221
(251) 344-9696
Joshua Ehrenfeld
Partner ~ Nashville, Tennessee|
(615) 724-3232
(615) 724-3332
Deborah Fisher
Retired Partner ~ Birmingham, Alabama|
(205) 458-5295
(205) 244-5635
Lauren Foshee
Associate ~ Birmingham, Alabama|
(205) 458-5270
(205) 244-5713
Tully Hazell
Partner ~ Atlanta, Georgia|
(404) 685-4317
(404) 817-3244
Jefferson Holt
Counsel ~ Atlanta, Georgia|
(404) 685-4277
(404) 214-7998
Ingu Hwang
Counsel ~ Birmingham, Alabama|
(205) 458-5313
(205) 244-5684
James McCarten
Partner ~ Atlanta, Georgia|Nashville, Tennessee|
GA: (404) 532-7236
TN: (615) 724-3236
(615) 724-3336
William McKenzie
Partner ~ Atlanta, Georgia|
(404) 685-4312
(404) 214-7396
C. Read Morton
Counsel ~ Atlanta, Georgia|
(404) 685-4330
(404) 214-7397
C. Read
Norman Orr
Partner ~ Birmingham, Alabama|
(205) 458-5142
(205) 224-9453
J. Fred Powell
Retired Partner ~ Birmingham, Alabama|
(205) 458-5228
(205) 244-5697
J. Fred
Marion Quina, Jr.
Counsel ~ Mobile, Alabama|
(251) 345-8255
(251) 344-9696
Bruce Rawls
Partner ~ Birmingham, Alabama|
(205) 458-5247
(205) 244-5700
Anthony Romano
Associate ~ Birmingham, Alabama|
(205) 458-5210
(205) 714-6895
Ty Roofner
Partner ~ Orlando, Florida|
(407) 540-6672
(407) 650-2730
Jack Stephenson, Jr.
Partner ~ Birmingham, Alabama|
(205) 458-5201
(205) 244-5708
Joseph Stewart
Retired Partner ~ Birmingham, Alabama|
(205) 458-5241
(205) 244-5710
Allen Sullivan Jr.
Partner ~ Birmingham, Alabama|
(205) 458-5108
(205) 244-5717
George Taylor, III
Partner ~ Birmingham, Alabama|
(205) 458-5254
(205) 244-5711
William Thuston
Managing Partner ~ Birmingham, Alabama|
(205) 458-5143
(205) 244-5712
India Vincent
Partner ~ Birmingham, Alabama|
(205) 458-5284
(205) 244-5714
Erin Ward
Partner ~ Atlanta, Georgia|
(404) 685-4255
(404) 214-7936
Callie Whatley
Partner ~ Birmingham, Alabama|
(205) 458-5441
(205) 244-5734
Thomas Wood
Partner ~ Mobile, Alabama|
(251) 345-8203
(251) 706-2412

Experience Matters

Brief sentence defining representative matters.

  • Loan Refinance

    Represented large corporation in refinancing of loan in the approximate amount of $40 million secured by senior residential facility located in Mobile, Alabama. Involved conversion of approximately $20 Million of loan amount into preferred equity contribution in a newly formed LLC that acquired the facility and refinanced approximately one-half of the corporation's outstanding loan. Scope of work involved advice as to structure of equity investment; and negotiating equity contribution agreement and operating agreement for newly formed limited liability company.
  • Asset Purchase Agreement

    Assisted the client in the sale of assets. Drafted the purchase agreement and related ancillary documents.
  • General Corporate Representation

    Generally represent privately held businesses in formation, funding, operations and mergers and acquisitions.
  • $8,000,000 Preferred Equity Raise

    Negotiated purchase and sale documents with investor; drafted and negotiated terms of new preferred shares of target issued in connection with the equity raise. Representation of client in connection with $8,000,000 preferred equity raise

  • Health Care Corporate and Financing

    Handle corporate work for client, including restructure of organization for asset protection and some succession planning. Also handle most financing transactions and some regulatory work.