August 30, 2016

The Importance of Business Succession Planning

Donna Jackson

Business succession planning refers to the use of estate planning strategies to implement a survival plan for a business in the event of death or illness. Succession planning is vitally important for all business owners, but particularly family business owners. It is estimated that 80 to 90 percent of U.S. businesses are family owned, yet less than a third of family businesses succeed into the second generation and only 10 percent survive into the third.

Premium Content For:
  • Senior Lawyers Division
Join - Now