The majority of the world’s enterprises today are family firms.  That is according to David S. Landes, Professor Emeritus of History and Economics at Harvard and author of Dynasties – – Fortunes and Misfortunes of the World’s Great Family Businesses. Dynasties is a fascinating book which highlights the prevalence and importance of family businesses in

A business succession plan is a key component of any asset protection plan.  In most cases, a family business constitutes a large percentage of the owners’ assets.  Yet a significant number of businesses have absolutely no succession plan in place.

In thirty years of representing family businesses, I have come to understand why succession planning

There are a number of relatively simple strategies an organization can use to provide significant protection for its assets.

1.                        Separate Entities. Consider creating a separate entity (possibly a limited liability company) to hold real estate, machinery, or assets relating to a new line of business. If there were a future judgment against the corporation