Risky Business 2008Risky Business 2008

Anna Nichols

Business-owning families simultaneously face the challenges of owning a business while planning for the future of the family and the management of family assets. Regardless of whether a family intends to maintain ownership of a business for generations to come, anticipates selling the company eventually or going public in the short-term, the ability to preserve wealth across future generations is a complex and challenging goal. While successful businesses benefit from disciplined operations and strategic planning, the management of family wealth is often eclipsed by the needs of the business and improperly delegated to trusted company executives. Ostensibly practical, this approach can result in a loss of critical long-term f...