For many business owners, keeping their company in the family and ensuring the financial success of the next generation is a high priority. Without careful planning the hard work required to build the business in the first place can be unraveled by family-successors’ disagreements, misunderstandings, and feelings of financial unfairness. Is your business a large portion of your net worth? Do your children want to be part of the family business? Would any of your children have a hard time working together?

Are any of them pursuing other careers paths or goals? Do they all have the ability to make sound financial and management decisions? Do you think they should have to work as hard as you did in order to appreciate the income they receive? 

To view the case study, please see attached.

- Roger A. Silvera, LUTCF