“A successful family lawyer understands the unique way in which a family business operates, and an effective business lawyer understands the resulting complex family dynamics.”
There’s no shortage of business attorneys in the community, but few are well-versed in managing the many factors at play behind the scenes of a family run business. Zhanna Maydanich has an intimate level of understanding of the delicate and complicated dynamics of running a small business as well as the unique added complexities involved with running a family business. Not only did she grow up in a family business, but both she and her husband own and run their own companies.
Zhanna Maydanich intimately understands the daily challenges faced by business owners, and the impact those challenges have on the whole family. Managing cash-flow, employees, revenue and expenses all while finding the time and resources to keep the business stable and thriving requires making decisions and sacrifices that impact the Business and has a direct impact on the family. Utilizing her experience and understanding of these dynamics which are unique to small and family businesses, she offers ZM Law Group’s business clients guidance and advocacy with perspective that is grounded in a lifetime of personal and practical experience.
Zhanna Maydanich is particularly familiar with the unique challenges and issues facing first-generation business owners and their families. She is passionate about working with these unique individuals and their families to assist with business formation, operation and safeguarding against pitfalls and challenges. Transferring your Business to second or third generations, or selling your Business also requires careful planning and an in-depth understanding of the various legal and financial issues that must be addressed. ZM Law Group ensures that these transitions are smooth, comprehensive and flawless.
Issues to Think About for Family-Owned Businesses:
- Formation: identify the structure for your organization, such as : 1. sole proprietorships, 2, partnerships, 3. limited liability companies, 4. S corporations, 5. C corporations, 6. holding companies under family control
- Identifying financing needs and options: 1. bank loans, 2.letters of credit, 3.investment funds, 4.even private or public debt or equity offerings
- Developing the most appropriate compensation structure, taking into account family needs, other family member partners, employees, growth strategies.
- Dispute resolution and litigation avoidance: Providing guidance and counsel to avoid and address business controversies that may lead to disputes either with family, other partners or others. Offering proactive advice, defining the rights and responsibilities of family members toward business operations and advocating for remedies that are best suited for your situation. Focusing on reaching negotiated settlements that preserve family ties along with the business
- Implementing the appropriate solutions regarding matter of corporate compliance, employee management and conflicts, issues of conflicts of interest and confidentiality.
- Drafting, reviewing, negotiating all contracts, documents, correspondence required to ensure legal compliance, maximize legal protection and safeguard your business interests.
- Discussing and addressing all options for business succession planning
- Developing personalized estate planning solutions in accordance with your wishes and maximizing financial benefits while minimizing tax implications. Ensuring fiduciary compliance.
