Strategies for Successful Succession for Family Businesses, Part 1

Most successful businesses are owned by one or more families.  Because they are family owned, these companies create many special planning challenges.  Ownership and control do not shift among non-owner managers. Rather, succession in ownership and management is a momentous and often highly emotional process for members of the family.  Frequently, these transitions are caused by the retirement or death of members of a family member.  And these transitions, if not carefully planned and delicately handled, can be ruinous, damaging the family and their company.  This program will provide you a practical framework of trust and estate planning and succession planning for family businesses. 

Schedule:

• Succession planning in family businesses
• Counseling clients on how to avoid family drama on succession
• Valuation issues for financial and tax purposes
• Buy-sell planning with family members or key employees
• Selling to third parties where intra-family succession is not possible
• Planning for the incapacity of the founding generation