PASSING ON THE FAMILY BUSINESS The three commandments for keeping the company alive even after you're not: Plan carefully and early. Groom a successor. Be pragmatic about estate taxes

Pare, Terence P.; Sheeline, William E.
May 1990
Fortune;5/7/1990, Vol. 121 Issue 10, p81
No abstract available.


Related Articles

  • Keep it in the family. Lucy, Jim // Electrical Wholesaling;Mar1997, Vol. 78 Issue 3, p22 

    Reports on the practice of business owners of passing on the company to their children. Suggestions to avoid mistakes; Early retirement; Information concerning business planning; Family councils; Trust and exposure for successor; Investment in management training; Management skills of...

  • Succession planning: reflect on all concerns. Van Wert, I. Gregg // American Printer;Jul2004, Vol. 233 Issue 4, p36 

    This article discusses matters about family business succession. Founders must identify key issues and build consensus among family members to every extent possible. Some children will want to remain, or become, an integral part of the business. Others may not. Clearly understanding who fits...

  • An estate-plan checkup. Andresky, Jill // Inc.;Nov92, Vol. 14 Issue 11, p50 

    Presents suggestions from Coopers & Lybrand for performing an annual checkup of a company's long-term survival and per sonal financial stability. An estate plan to ensure an orderly and tax-cost-efficient transfer to family members; Developin g a management-continuity plan, identifying...

  • Estate planning really does pay. Kaplan, Thomas E.; Aronoff, Craig E. // Nation's Business;Mar97, Vol. 85 Issue 3, p53 

    Discusses what family businesses can do about estate planning. Findings of a Gallup Organization poll of 1,000 family-business owners about estate taxes; Family businesses who are at risk; The benefits of estate planning; Importance of getting good advice early.

  • Secure your family's future. Espinoza, Galina // Money;Oct97, Vol. 26 Issue 10, p138 

    Reports on the importance of estate planning for those who wish to protect their loved ones in the event of their death. Several myths about estate planning. INSETS: Your family needs these safeguards, by G.E.;Make these moves to keep your business in the family, by G.E..

  • Cutting the umbilical cord. Loxton, Liz // Accountancy;Dec2003, Vol. 132 Issue 1324, p56 

    Fewer family businesses in Great Britain are being passed down the generations. Research from the BDO Stoy Hayward Centre for Family Business indicates that some 75 percent of companies are family owned and managed. But accounting practitioners and advisers report a sense of crisis in the...

  • Hey Kids, Someday It Will All Be Yours. Blackman, Irving L.; Whitlock, Brian // Modern Machine Shop;Mar2007, Vol. 79 Issue 10, p36 

    The author offers tips for millionaires on how to deal with estate taxes. He discusses the advantages of estate planning in keeping parents in control of their wealth while they are alive. He offers ideas on how parents can pass on their wealth to family members and not to the U.S. Internal...

  • Stop the IRS from Taking Half of Your Wealth. Blackman, Irving L. // Modern Machine Shop;May2010, Vol. 82 Issue 12, p38 

    The article presents the comprehensive plan that accounts for almost any tax or economic want of the business using the System. System is designed to trim the estate tax that has evolved into the way to keep all of a person's wealth in his or her family. It also highlights the need to check if...

  • Family planning. Roth, J. D. // Entrepreneur;Sep2013, Vol. 41 Issue 9, p78 

    The author discusses his experiences inheriting part of his father's business after his father's death, and offers advice for business owners regarding planning for succession. Joint management of a company, family business management, and estate tax liability are discussed, as well as early...

  • When family matters. Kaffer, Nancy // Crain's Detroit Business;8/18/2008, Vol. 24 Issue 33, p11 

    The article reports that grooming a successor, training, outside experience all can help when passing a business on to the next generation. Kurt Streng was 15 when father Bill Streng bought Troy-based Cadillac Looseleaf Products. It was then a presentation binding company, and the younger Streng...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics