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For many fathers and sons, that personal relationship also blends into their careers. About 80 percent of businesses in the United States are family owned, according to the Center for the Study for Taxation in Washington.
Mixing the parent-child dynamic with a business partnership can be as rewarding as it is challenging. A trust not often [...]

The path to riches usually starts with a family business. To use private-banker jargon, the Patriarch founds the company (they never say Matriarch) and then passes it to the Next Generation and then maybe to “Gen 3.” Inevitably, the family members start fighting and the business goes under or is sold for a Liquidity Event. [...]

Open communication and the ability to separate the different expectations of home and work are the keys to a successful father-child business relationship, experts say.
There are few neutral opinions when it comes to the father-child dynamic in family-owned businesses, said Wayne Rivers, the president of the Family Business Institute in Raleigh.
“That’s why the lows can [...]

Canadians are aging and Canadian entrepreneurs are aging even faster. According to the Canadian Venture Capital and Private Equity Association, over the next 15 years, more than half of the country’s medium-sized business owners are expected to retire. In southern Ontario, it is expected that more than 56 per cent will need to retire in [...]

Cohesive ownership is perhaps the key competitive advantage of a family business. As generations pass and the number of owners increase, how can you assure that you will have active, cohesive, competent owners? And, how you can avoid the dangers of conflict among shareholders?
This audio conference, led by Family Business Consulting Group senior associate [...]

It is one of the toughest questions that parents who own businesses confront — how can they be equitable in their estate planning when one child works for the company but others don’t?
The answer: It isn’t easy. But the best way to preserve harmony and, possibly, the business is to communicate with family members and [...]

Article by Wayne AllenWhat would happen if, at some point in your life, you became incapable of managing your financial affairs or unable to make medical decisions for yourself? What would happen to your business? Will your children be dependent upon your financial resources? Who would receive your assets when you die, when would [...]

Latter-day Saints take comfort in the fact that their church is never without leadership, even when the presiding First Presidency is dissolved upon the death of the president.
Leadership automatically shifts to the Quorum of the Twelve Apostles in a move formally termed “apostolic interregnum.” That [...]