[Fredslist] Rick Raymond article on business succession

[clamal at lamal-law.com]

I just read an excellent article by fellow Gothamite Rick Raymond on the
critical challenges that must be addressed by family business owners if they
want to preserve and pass on their businesses to future family generations.
This is an extraordinarily important but often overlooked issue for family
owned businesses.  I've worked with clients who have had to deal with highly
emotional, and often acrimonious, family conflicts resulting from the
parents' neglect of succession business planning.  Part of the tragedy is
that such failure of planning can threaten the continued viability of the
business, so that no one you care about benefits fully from the value of the
business you've built.  Rick's article outlines the important steps that a
business owner needs to take in order to avoid such a fate  

 

Bottom line: If you own or control a family business and if you really love
your family and kids, you've got to have a plan for what happens once you're
gone.  

 

You can read Rick's article here:
http://www.nyreport.com/articles/76617/succession_planning

 

Thanks, Rick. Great work!

 

Chris Lamal
_________________________

Christopher T. Lamal

Lamal Law Office

1040 Avenue of the Americas
11th Floor

New York, NY 10018

clamal at lamal-law.com

Tel:  212-302-0410
Cell: 646-286-0289

Fax: 646-435-9221

 <http://www.lamal-law.com/> www.lamal-law.com

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://www.gothamnetworking.com/pipermail/fredslist/attachments/20100909/13c90e4c/attachment.html