Passing Down a Family Business to the Next Generation
You’ve worked for years to build your business into what it is today. If it’s time to begin the next chapter in your life, you may want to pass down your family business to the next generation. Transferring your business to your children is a more complex process than many people realize.
Estate Planning Tips for Small Business Owners
If you are a small business owner, you know first-hand how much time, energy, money, heart, and soul go into such an entrepreneurial endeavor. You have likely spent a significant chunk of your life building up your business and now is the time to start thinking about what will happen to...
What Should Be in Your Business Succession Plan?
Avoiding the Drama of “Succession” with a Business Succession Plan
The popular HBO series “Succession” explores dramatically a common issue—heirs fighting for control of the family empire. The series centers on the Roy family, who control a media and hospitality empire. As the family’s patriarch ages and suffers health problems, his four children each vie for control of the company. While audiences...