Business Succession

You’ve always been an independent person, and your kids are pretty much the same. You accepted that your dreams may not be their dreams – and that includes your plans for (what is currently) the “family business.” Now, however, at least one of your children has...

You’ve been in business for a long time now. In fact, you’re getting closer to retirement each day. This has encouraged you to think about what will happen to your company once you are no longer around to run it.  One option at your disposal is to bring in your family...

There are numerous forms and structures that your business can take. For instance, in the beginning, you may start out as a sole proprietorship. As your company grows and you start to realize that you can make a permanent living from it, then it’s likely you’ll need...

Business succession planning is something that you certainly don’t want to put off. If you don’t start thinking about it until shortly before you’re planning to pass the business on, there could be a lot of complications. Things may not go as smoothly as you wish....

With many family businesses, from small local stores to multimillion-dollar corporations, the goal is for the parents to pass the business on to their children. They want their family to run their own business after they have passed away, and it's a major inheritance...

When you're doing your estate planning or business succession planning and trying to figure out what happens to the family business, you may want to leave the business to your children. If you have multiple children, your plan may be to split it up and give an equal...

Unfortunately, business succession is not a top concern for many business owners in Northeastern America. Owning a business is like raising a child—you never expect that your work will one day come to an end. Most people cannot work forever, even when that is their...

Ever since you started your own business, you hoped it would be a business that stayed in the family. You imagined leaving it to your children or having them come work with you. You thought they could take over and run the business when you were done. However, you are...

 Whether you inherited, purchased or started your company, you may derive personal pride and a sense of satisfaction from the company's success. You likely also feel a sense of responsibility to the employees who have committed their professional futures to your...

They say you are only as good as your last performance. When you run a business, that means that however great your reputation is now, it would not take much to lose it. All businesses need a succession plan regardless of size. You need to plan for the fact that you...