A family-owned business where some or all family members are active presents very difficult problems. When looking to the future, consideration must be given to the following:
- Ability of each family member, their expertise and their competencies
- Ability and desire to lead
- Role of non-active family members
- Financial requirements of the business and remuneration for family members and shareholders
- Succession plan
At LCA, we have the experience to advise family-owned businesses and the professional network to plan for the future which allows for successful intergenerational transfers of both wealth and power.