» family business

Worry in Detroit over Lions’ Succession Plan

The Detroit Lions say that there is a succession plan in place for when the current owner passes away. They are not saying what that plan is, which might cause some concern for the NFL. Like other professional sports leagues the NFL has tight restric… Read More
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Is the Family Business a Part of Your Estate Plan?

Family business contributes to over 70 percent of global productions, but owners of them don't update their estate planning. It's estimated that over 50 percent of family business owners didn't update their estate planning documents fo… Read More
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Don’t Forget Estate Planning for Your Family Business

Skilled estate planning is essential to the tax-efficient transfer of the family business across the generations. While the majority of family business owners have estate plans, the majority of these plans can be considered dated. Family businesses a… Read More
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Planning Lessons from the World of Sports

Several family run sports teams have failed over the years and the families have been forced to sell the teams. Some of the reasons for the failures can be enlightening for other family owned businesses if they wish to survive after the founder passe… Read More
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And the Business Goes to …the Employees?

Dawn Huston, 31, started working at Dansko 11 years ago, sorting shoes for delivery. Now a warehouse processor, she said the idea of owning a piece of the company made her nervous at first—though she wasn’t worried about her retirement savings, s… Read More
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Four Generation Family Business Endangered by Family Dispute

The silent party to all the fighting is, of course, Luray Caverns. It is not just a U.S. Natural Landmark. It is also a business, and businesses can suffer when their owners are at war with each other. Family businesses have a tough time passing from… Read More
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Is Your Ann Arbor Family Business Staying in the Family?

The problems founders face when an heir announces he/she refuses to reign are significant and extend far beyond the hassle of hunting for a replacement in a  poor quality applicant pool.  The real damage done in this circumstance comes from… Read More
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