Succession Not Succeeding for Family Business

Jerry Gleeson posted an article Succession Not Succeeding for Family Business, Registered Rep, Mar. 22, 2011.

Although 27 percent of family owned or managed businesses will change hands in the next 5 years, only 47 percent of the companies have succession plans in place.  Business owning clients need to think about who will be the best successors to their respective companies and also when to turn over the ownership and management of the company.

HAT TIP:  Wills, Trusts and Estates Prof Blog

Posted by Adam Fleischer, Associate Editor, Wealth Strategies Journal.