Summary
There is probably no single more important - and more ignored - issue than succession planning and inheritance for a small business. An executive has spent much of his life creating a business that can be part of his legacy. The last thing he wants is for that legacy to include litigation, dissent and difficulties in deciding who gets custody of the company.
In some cases, spouses never involved with the firm take the reins, alienating executives. In others, disputes over who should get what stake in the firm are caused by disputes over or lack of a will.See the full content of this document
Extract
Succession Planning a Sensitive Subject
Sudden deaths don't need to mean the death of a company or the start of litigation, if executives prepare for the inevitable.
The problem, according to Frank W. Slute...See the full content of this document
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