Some key agreements to consider as an essential part of your succession plan. These are not all inclusive and we will further elaborate on them in later posts. 1. Shareholders’ agreement, including buy sell and addressing the 3D’s (death, divorce, disability) 2. Family employment and compensation agreement 3. Voting agreement 4. Dividend policy 5. Insurance, […]
Not all family businesses are destined to remain within the family. This is an unfortunate reality and the stats prove this fact out. Only about 50% of family businesses remain within the family after the second generation and about 15% stay with the family after the third generation. Sobering statistics. Depending on the size of […]
Today, I am writing about you and your family interactions, mostly as it relates to the family business. Risk taking in your family communication is not easy to do. Having difficult conversations can let you and the business thrive. Not having difficult conversations could stifle and hold back the business.
We all are busy. Are you taking care of yourself? This post pandemic and seemingly exhausting...
Do you have any idea of how much of your family’s worth is invested in your family business? What about other assets which have a meaningful value? Here in Vancouver (Canada), I have seen the net worth of families grow exponentially because of our long and significant increase in real estate values. This increase has […]
