Our Stories

Passing the Business to the Next Generation

Communicating And Facilitating A Transition to the Next Generation

Scenario: An entrepreneur and his family had been working with a professional advisor to complete his estate plan. The process bogged down because the entrepreneur was having difficulty letting go and deciding which of his children should take over the business.

Where Equitas Helped: Equitas brought the family together for open discussions and to communicate the entrepreneur’s decision to hand the company reigns over to one of his children. Equitas then helped create an appropriate family business governance structure consisting of an advisory board for the business and semi-annual meetings for the family. At the same time, Equitas facilitated the execution of the estate plan and related legal documentation by coordinating the lawyers, accountants and other professional advisors. 

Result: Decisions were made and documented and processes put into place to provide for a transition of the business and other family assets to the next generation.