• Family Business Strategies as the Owner Faces Retirement
  • May 16, 2003 | Author: R. J. McConnell
  • Law Firm: Bose McKinney & Evans LLP - Indianapolis Office
  • Estate planning, when a business is involved, includes far more than deciding whether to sell or who to name as your beneficiaries. In fact, if you want to have the option of keeping the business in the family, an equally compelling question must be answered, a question of survival. Bitter statistics reveal that only 35% of successful family businesses survive the second generation, and only 20% survive the third generation. What accounts for this tragedy?