The Unintended Consequences of Ownership Transfer Planning

Passing a family business successfully across generations is a dauntingly complex undertaking. Typical executive succession challenges—such as identifying the business’ leadership needs, finding the right person, preparing the organization and executing the handoff—are amplified by the infusion of emotion into the process. Decisions about who gets what and who’s in charge are tied into complicated family relationships and have long-lasting effects on self-worth, in ...