Family Business Consulting - Southeastern Michigan
During a prospective client meeting with a family business beginning to transition to third generation, it became clear that there were decades of issues to be addressed. Dad’s estate plan had considered the inactivity of his one daughter in the family business and she inherited non-business assets equal to the value of 25 percent of […]
Here’s the thing… good planning avoids conflict. But, good planning is much more than asset allocation. Advisors implore their clients to plan for the future. They often use disturbing techniques like horror stories of deplorable outcomes due to a lack of planning. Usually the disturbing track is about a loss of money either to the […]
Every leader surrounds themselves with advisors. We have all had mentors throughout our lives whose lessons have given us our ethics, values and acumen. Whether it be a parent, teacher, clergy or Dutch Uncle, our mentors have shaped our abilities to think, reason and solve. If we are fortunate enough to have some of those […]
The ‘business is business’ mindset can be a problem in a family enterprise. The family dynamics factor in a family business is strength and a weakness, an opportunity and a threat. Six best practices are proposed.
