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Blog Posts Tagged "business succession plan"

Don’t Allow Your Business to Become a Victim of the Dreaded Ds

Is your closely-held business protected from the five dreaded Ds – death, disability, divorce, disaster and disagreement?

Turmoil, and even business failure, can follow if you don’t have a legal succession plan in place when any of these events occur. While this may not offer you any comfort, you are certainly not alone if you haven’t yet set up a succession plan: fewer than half of closely-held and family-owned businesses have a plan in place that covers these contingencies.

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Five Ways to Save a Family Business for the Next Generation

It’s a harsh, but motivating reality - more than 70 percent of family businesses do not survive the transition from one generation to the next. While many family business owners dream that their legacy will survive deep into their family history, the idea that their long-term investment may not outlast them is a reality they should face … and work to protect against. With some smart and proactive measures, business owners can go a long way to protect against generational demise.

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