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Family Business

divorce is a process

The 4 Stages of the Divorce Process

Surviving the Divorce Process, Step by Step Divorce really starts when you make the decision to get one. Typically, this represents the culmination of a long period of problem solving, or the recognition that you are faced with an unsolvable problem. Or, perhaps, this decision has been handed to you, and you have no choice […]


Family-Owned Business Transition

Family-Owned Business Transitions: The Good, the Bad, and The Ugly

Like Snowflakes,  They Vary Transitions in family-owned businesses can take many forms and be challenging endeavors. From a change of control, as the torch is passed from one generation to the next, to the much more life-changing sale of the entire business, each transition comes with its share of the Good, Bad, and Ugly. Types […]


family business counseling

Catching Up With Carrie Rosenbloom: Co-Founder and Senior Consultant at Evolve Family Business

Counseling Family Businesses Through Divorce [Editor’s Note: It has been three years since we profiled Financial Poise Columnist Carrie Rosenbloom, who is also an attorney, educator, mediator and therapist.  She has since opened her own firm, Evolve Family Business, and she kindly provided us with an update.] Since we last talked, I moved away from […]


family business roles and responsibilities

Protect Your Family Business with Smart Succession Planning

Clarifying Roles and Responsibilities for Smooth Transitions In family business, a succession plan guarantees continuity. It ensures a smooth transition of leadership so that the business can carry on. Where no succession plan exists, the risk of turbulence and conflict is high. Creating a succession plan is a fairly straightforward but necessary task. It details […]


Qualified Opportunity Zones

Your Family Office Wants to Invest in Opportunity Zones?: Think LIHTC

Qualified Opportunity Investing with LIHTC Transactions There’s a lot of buzz on the subject of investment in Qualified Opportunity Zone Funds. Congressional sponsors were hopeful that this new tax benefit regime, created by the Tax Cuts and Jobs Act of 2017, could attract new sources of capital to under-developed neighborhoods in need of investment. But […]


family charter

The Importance of a Family Charter in Family-Controlled Businesses

How to Maintain Control in Family-Controlled Businesses Unique challenges tend to arise when a family controls a business. Some questions that may emerge are: Which family member will lead the business? How will profit distributions be decided? How can a family member exit the business? Questions such as these are best handled in advance and […]


BTEP

Business Transition and Exit Planning: Welcome to the Jungle!

BTEP: Where Should You Start? You are a business owner. You have worked hard, possibly for decades, building your business. You are smart, and the business has been successful, but it is time to move on.  Perhaps you want to retire; maybe you want to try your hand at something new. Regardless of the reason, […]


family governance

Family Governance is Not Business Governance

Family Businesses Need Strategies to Govern Both the Family and the Business Family businesses are unique and the way they are run differs from family to family. Each business has varying degrees of corporate governance. Formal governance structures grow as the business grows and becomes more complex. Governance processes trail business needs in most situations. When […]


familiy business issues

Solving Familial Business Issues: Putting the “Family” in Family Business

A Family’s Most Valuable Business Asset is Itself The component to family businesses that make them unique from other businesses is the family. Solving family business problems without understanding the family dynamic is akin to a placing a bandage on a broken leg – it simply is not sufficient. Family businesses possess a complexity that […]


The Importance of Succession Planning for a Thriving Family Business

Succession Planning Means Looking Beyond the Second Generation Most family businesses don’t make it beyond the second generation. Even fewer reach the third generation of ownership. Why is that? As much as one generation would like to hand the business off to a next-generation family member, the following critical questions are often not adequately considered: […]


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