Successful Transfer of the Family Business
Exit Planning for family businesses creates its own set of unique challenges and rewards. While each family’s situation differs, the transfer plans we can design are founded on three basic principles:
- We must ensure that the parents’ post-business life is financially secure.
- It is important to create a fair way for children to receive ownership interest and other assets.
- We emphasize the need to keep parents in control of the company until they have attained financial security and until the successors are fully equipped to run the company successfully.