Succession Planning, Sale to Insiders, Exit Planning Pat Ennis Succession Planning, Sale to Insiders, Exit Planning Pat Ennis

Transfer of Ownership to a Business-Active Child

All business owners will need to answer these three questions at some point:

  1. What is my desired date of departure or exit?

  2. How much $$$$ will I need for my goals and for life after the business?

  3. To whom will I sell my business?

For many business owners, the preferred answer to the third question is a sale or transfer to my child, or children, that are active in the business. In such cases, the owner would have legacy or values-based goals that would be realized with a transfer of the business to their children.

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Transfer to Family, Estate Planning, Exit Planning, Succession Planning, Business Continuity Pat Ennis Transfer to Family, Estate Planning, Exit Planning, Succession Planning, Business Continuity Pat Ennis

Some Thoughts About Family Business Transfers

You might think that transferring your business to a child or family member would be the easiest exit route to facilitate. Whereas statistics reveal that only one-third of all family businesses pass successfully to the next generation, and only 10% to the third generation.

Owners considering a transfer to children often run into these obstacles, among others…

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