As the baby boomers reach retirement age, more family businesses are faced with the issue of succession planning. The days of passing the “mom-n-pop” family business from parent to child are long gone. While many retiring business owners would like to maintain the business' independence and keep it in the family, the complexities and pitfalls of the modern economy have made succession a daunting prospect for family business owners. Even if the younger generations or the business' employees
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