Family business experts estimate that approximately one-third of family businesses will survive to the second generation, 12% will survive to the third, and 3% will still be viable in the fourth generation and beyond*. This proves that whether you plan to retain or sell your business at death, disability or retirement, you need expertise to help you structure an arrangement to maximize the tax and financial benefits to you and your family. Our associates are specialists in business succession planning strategies, including buy-sell agreements (such as stock redemption and cross-purchase agreements), the use of life insurance, grantor-retained annuity trusts and family limited partnerships. We work with you and your advisors to develop strategies that maximize control if you wish, while still allowing the business to smoothly transition whenever you choose.
Facts on Family Business in the U.S., from the Family Firm Institute, ffi.org