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Category Archives: Business Succession Planning

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Preserving family harmony by providing exit opportunities from the family business – part 2

Posted in Business Planning, Business Succession Planning, Estate Planning
TruckIn our previous post, we used a case study of the hypothetical Widget family to illustrate the unintended discord families can face when the founder’s descendants are “frozen in” to the family business.  There are many approaches the founding generation can use in its own planning to avoid “freeze-in”.  A funded buy-sell agreement can be… Continue Reading

Preserving family harmony by providing exit opportunities from the family business – part 1

Posted in Business Planning, Business Succession Planning, Estate Planning
long haul truckEvery stage of the family business “life cycle” presents its own distinct challenges. Entrepreneurs commonly give tremendous energy and attention to growing the business during the prime of their own careers, and rightly so. Prudent business owners also look ahead to their own retirement, and transitioning the business to a new generation of management, whether… Continue Reading