Sadly, many family businesses don’t survive after being transferred to the next generation. This is often due to a lack of effective succession planning – and a vital component of any succession plan is careful estate planning!
Take a moment to consider the following estate planning questions:
One of the most preventable causes of a failure to sustain a family business across generations is a lack of preparation and in particular, the development of a succession plan. Unfortunately, a considerable portion of family businesses have no succession plan in place.
Below you can find a list of a few simple steps that can be taken within a family business to increase the chances of a smooth transition of the company from generation to generation. Of course, there...
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