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FAMILY BUSINESS LONGEVITY: THE TRUST FACTOR

Published: 2013 05 20 | Views: 5758
“Shirtsleeves to shirtsleeves in three generations” is the norm with family businesses. Another way of describing it is the first generation makes it, the second generation preserves it and the third generation spends it. Business owners in their 50s, 60s and older looking to transition their wealth to the next generation often ask themselves if their family will be in the same position. They wonder if there is some way that their family can beat the odds so that subsequent generations in their family do more than just preserve or certainly spend what has been built up.

Dividing Family Assets: The Lot Selection Process

Published: 2013 03 04 | Views: 3694
You are the executor of an estate and have several valuable assets (e.g. real estate holdings or an artwork collection) to sell or divide up for the benefit of the children of the deceased. The deceased has not provided any direction as to who should get what assets (except for personal items such as jewellery and chinaware). The children cannot agree amongst themselves as to who should get what. There is significant value so you don’t want to be putting the assets up for sale for pennies on the dollar. The only viable option that is left is to divide the assets among the children as best you can. How can you do this in a way that is fair and equitable?

KEEPING IT IN THE FAMILY: A TRANSITION SUCCESS STORY

Published: 2012 11 12 | Views: 23
The question for family businesses in transition or looking to transition is what lessons can be learned from those who have managed to beat the odds.

Who Will Take Over the Business? Succession Planning for the Canadian Business Family

Published: 2012 03 19 | Views: 4023
With dead-on observations and vital advice, "Who Will Take Over the Business?" is the key to a successful transition to the next generation. Any entrepreneur considering retirement should take its lesson to heart.

From Family Business to Family Office

Published: 2012 01 16 | Views: 2330
Simply put, a family office is the structure used to manage the business of a family. It need not be an actual office nor need it consist of full-time help. Think of it as a concept, as a kind of virtual office that organizes you for an intended purpose.
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