Family Businesses – For Now and Generations to Come
There’s a spirit within a family-owned business that can be a valued asset for generations. However, if you don’t consider how to best protect the business, then what was once a harmonious operation could quickly become a source of contention and disengagement on the family front. Is your whole family a part of the business, and do they have equal shares, or is it all over the place, including some family members not being involved in the business at all? Do you have a plan that clearly delineates how the business shares will be allocated to children, including inactive ones, if the unexpected happens?
Do you have a plan in place for any key family members involved in running the business should something happen to them? Are you considering the legacy of your estate and the business and how to protect both for the greatest benefit to the family?
LCZ Consulting strives to help you make the best decisions for your protection and peace of mind.