3 Ways to Prepare to Pass the Family Business to the Next Generation

By Justin Goodbread, CFP, CEPA, CVGA Reports of the deaths of family businesses before they make it to the third generation have been greatly exaggerated. Three ways to plan for the succession of your family business. Owning a family business, and planning the succession of your family business, is as much a part of the American dream as white picket fences and two cars in every garage. But is handing your business down to the next generation a good idea or just ideal? You see, there’s been a long-standing stigma around family businesses. The three-generation rule, as it’s come to be known, suggests that family businesses rarely make it to the third generation. But let’s take a closer look. READ FULL ARTICLE>>