If you own a family business, retirement isn't simply a matter of deciding not to go into the office anymore. There are some critical questions to answer such as... "What happens to the business when I'm no longer running it?" "Will I have enough money to retire?" Family dynamics complicate the transition due to relationships and emotions involved. Many people are not comfortable discussing topics such as aging, death, and financial affairs. Comfortable or not, succession planning should be a priority for any family business. Many family-owned businesses fail to survive the transition from founder to second generation. Developing and implementing a well-designed succession plan is essential to the survival of a family business from one generation to the next. We can help you with these key issues -
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