Family Owned Businesses

family

Family-owned businesses operated under a different set of circumstances. What is different about a family business is the many varied family dynamics that may be in motion. Family members working in a business together have multiple roles to play including:

  • Shareholder
  • Employee
  • Family Membership

It is where these roles overlap that potential conflict and challenge can occur. Exit Planning for Family Businesses helps clarify roles and creates the infrastructure for effective value-enhancing transfer of control and ownership.

The "What Ifs" for a family business owner:

  • What if I don't want to do this anymore? What happens next?
  • What if something happens to me—if I die too soon or become disabled?
  • What if my key employee (family successor) leaves?
  • What if family conflict over ownership or control erupts and threatens my business?
  • What if my financial needs from the business conflict or interfere with a smooth transition?