Transferring the family business is not just about legal decisions. It is also about transferring management decision authority. But too many family businesses don't do the latter. As a result, research shows only 30% of family businesses make it to the second generation.
Complete the worksheets entitled "Identifying What's Important." There are seperate unique versions for older and younger generations. Then listen to the two streaming-audio presentations.
Identifying What's Important: Older Generation (pdf)
Identifying What's Important: Younger Generation (pdf)
These worksheets will help each generation of the family business to identify important issues in the transfer of decision authority. Each member involved in the family business should complete one of these worksheets.
Family Business Transfer Decisions Are More Than Legal Decisions
Discusses the stages often excluded in the family business transfer process.
Completing the Family Business Management Transfer Planning Worksheets
Provides guidance in completing the worksheets.
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