Posts Tagged ‘Family Business’

Article 65-Estate Planning Series: How Can the Structure of Your Family Business Help Your Estate Plan?

Written by Wright Law on . Posted in Estate Planning

At some point, every family business owner considers what will happen when they are no longer able to run the business.  Will they be able to retire – when they are ready -- and successfully pass on the business? 

To minimize the chance of failure, family business owners must be willing to explore all their options.  This cannot be done passively.  Owners who commit to this step will open up many possibilities.

Article 64-Estate Planning Series: Can I Pass on the Family Business and be Fair to All the Kids?

Written by Wright Law on . Posted in Estate Planning

Successfully operating a family business - and preparing to pass it on - may seem like separate issues.  In reality, they are not.   The strengths, skills and persistence that built a successful business can also help prepare that business for a successful transition.  That is why it is difficult to watch the value of a family’s most significant asset evaporate for failure to “plan when you can.”   

Once you have committed to identify your options, the next step to a successful transition is to identify your desired result.  This may sound simple but it seems to be where most business owners stall because they can’t see how to get from where they are to where they want to be.

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