Complete Story
06/09/2016
Avoiding the Family Feud
If you are a parent, do you remember watching your children squabble over who should get to watch their show on TV, or whose toy it was, or even who got to ride in the front seat of the car on a trip to the grocery store? Have you ever seen your children or nieces or nephews destroy something in the process of fighting over it? If you are a parent, aunt or uncle of course you do! That what kids do…fight like crazy over absolutely every matter imaginable. Now imagine them fighting over a potentially million dollar asset. Kind of terrifying.
If you own a family or closely-held business, this kind of battle could be in their future. There are thousands of family businesses in this country and each and every one of them can cause an incurable rift within the family when passed on. If you have a family business, quite simply, you need a business succession plan in order to avoid a family feud.
