Multi-Generation Family Business Planning

Home/Core Expertise/Planning/Multi-Generation Family Business Planning

Multi-generational family businesses often face a unique challenge in balancing the preserving of the legacy of the founders, the capital needs of the company and the profitability distribution desires of the families who represent the ownership, but often do not all work for the family business. In addition, the younger generations have typically not reached a state of financial independence, so the challenges of accumulating retirement and college savings, household budgeting and the typical financial stresses of life are still present in their lives. This constant balancing of family, business and legacy objectives can only be accomplished by first understanding the values and goals of the family as a whole and the individual families within the business.

When it comes to multi-generational family businesses, chances are you’ve felt overwhelmed.  We work with clients to coordinate plans that align with the owners’ business succession objectives while working with potentially complicated family dynamics.

As successful planning milestones are met, our clients’ families are able to implement meaningful legacy objectives through estate planning, charitable planning and community involvement.

The development of these plans often include:

  • Tax Planning
  • Estate Planning
  • Charitable Strategies
  • Multi-generational Wealth Planning
  • Family Governance and Family Council
  • Buy-Sell Planning
  • Liquidity Planning
  • Estate Tax-Minimization Strategies