At some point in the evolution of every family business, its founder and/or present leader is going to pass on. Even when it happens unexpectedly, the consequences don’t need to come as a complete surprise. Proper planning through a legacy assessment can help position and prepare the family and/or the associated business for continuity and provide a clear understanding of the founder’s or leader’s wishes.
Many family business owners may think they’re covered by an estate plan, but an “estate…
