Family Business Succession Planning

The United States is on the threshold of a major demographic shift. The post-war “baby boom” generation — a group of some 78 million Americans — has arrived at, or is nearing retirement age. This generation now faces the very real necessity of planning for retirement, the end of life and a smooth transition to succeeding generations. In the context of a family-owned business, this planning will take the form of anticipating a transition in the ownership and control of the business, whether to