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When the Family Business Fails to Plan...They Plan to Fail



by Kristin M. Tyler
Gordon Silver - Las Vegas Office

May 16, 2013

Previously published by State Bar of Nevada, Nevada Lawyer on May 2013

According to the Family Business Institute, only 30% of family businesses survive beyond the founder’s generation. The mean age of control in the family's core company is 60.2 years. Despite this 25% of family business owners entering their senior years haven’t completed any estate or succession planning. These numbers illustrate that proper succession planning is key to ensure that a business survives - and thrives - for generations ahead.


 

The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 

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