Succession Planning
More than seven out of ten family-owned businesses fail to survive the transition from founder to second generation, typically falling prey either to estate taxes or family discord - or both. It is evident that developing and implementing a well-designed succession plan is essential to the survival of a family business from one generation to the next.
At Gray, Gray & Gray, our succession planning experience offers a proven framework for developing a practical succession plan. Each plan is customized to your family, your business, your goals, and your values.
We meet with you to discuss issues such as restructuring the business, choice of entity, tax consequences, and retirement income projections. But we are also acutely aware of and sensitive to the many personal issues that affect any family business situation. Our goal is to structure a succession plan that meets the needs of all generations.