A family business can be a great reward. However, the relationships and emotions that make up the “family” dynamic, can complicate retirement transitions. Naturally, most people are not comfortable discussing topics such as aging, death, and financial affairs, but failing to secure a plan to ease succession can be a costly mistake.
More than seven out of ten family-owned businesses fail to survive the transition from founder to second generation, typically falling prey either to estate taxes or family discord – or both.
The Wall Titus team can help you develop and implement a well-designed succession plan to ensure continued prosperity, and provide an easy transition for your loved ones. Our professionals are experienced in designing strategies that include equitable distribution, minimization of transition taxes and consequences, and retirement projections.
Contact us to find out more about our Succession Planning services.