Transitioning a family business.

A husband-and-wife client decided to start their own business, and it prospered. In 2005, they asked us to help them figure out a way to get the business out of their estate and into the hands of their children so that the children wouldn't have to sell the business to pay estate taxes. They also wanted to "tie" the children to something. In a team effort that took more than three years, we analyzed the situation and held numerous discussions about the practical impact of their options, eventually bringing in an estate attorney for additional support. The effort was worth it, as the couple achieved their objectives, and we built a relationship with the next generation of their family.