Family Business & Succession

After over combined 80 years of studying various planning failures and successes for family businesses, studying industry management and succession research, and working with business consultants, psychologists, and psychiatrists, our firm has developed a successful planning approach that better integrates family dynamics and business management strategies into the tax and estate planning for the business succession process.Succession plan breakdown

Our integrated business management approach to succession and transition includes a path to guide succeeding generations into an effective management and ownership role while addressing internal family communication, particularly in the business context.

Our firm guides the family in creating qualification rules for family members who work in the business, and a means of dealing with family-employee issues without detriment to family relationships. Our firm uses tax planning techniques to minimize the multiple layers of taxation (estate, gift, generation skipping transfer, capital gains, business and personal income, and property taxes) minimize costly taxation in succession and transition.

Where appropriate, we assist the family in creating a plan for meeting future liquidity needs (e.g., if significant estate taxes are anticipated) and use company/corporations and trusts (foreign or domestic) to protect assets and reduce liability and creditor exposure.