{"id":133757,"date":"2024-10-28t14:00:05","date_gmt":"2024-10-28t18:00:05","guid":{"rendered":"\/\/www.g005e.com\/?p=133757"},"modified":"2024-10-29t19:22:27","modified_gmt":"2024-10-29t23:22:27","slug":"eleven-questions-about-kids-wealth-and-the-family-business","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/10\/28\/eleven-questions-about-kids-wealth-and-the-family-business\/","title":{"rendered":"eleven questions about kids, wealth and the family business"},"content":{"rendered":"

\"three<\/strong><\/p>\n

cpas have a role to play.<\/strong><\/p>\n

by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n

inheritance is notorious for ripping families apart. many manage to divvy up their parents\u2019 wealth with the kind of mutual love and respect we expect to see in families.<\/p>\n

but sometimes, with the smell of moolah in the air, it\u2019s more like a knife fight.<\/p>\n

it\u2019s even more complicated when there\u2019s a family business involved.<\/p>\n

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 <\/p>\n

so many questions<\/strong><\/p>\n

unless there\u2019s just one inheritor, one who wants to own and run the business, there are many complex issues \u2013 financial, legal, psychological \u2013 that need to be resolved.
\n
\nand it\u2019s a lot easier to resolve them if it\u2019s done before it\u2019s too late. which, for all anyone knows, for any given person, could be five minutes from now.<\/p>\n

the annual private business owner survey conducted by brown brothers harriman finds that a staggering 74 percent of family business owners say that the roles for the next generation are either not well defined or not fully communicated. and 29 percent are struggling to pick a successor.<\/p>\n

besides questions around who-gets-what there\u2019s the question of who-wants-what. it\u2019s perfectly natural for parents to want to see their kids take the family business \u2013 the family identity \u2013 and keep it intact and alive. indeed, 91 percent of private business owners say it\u2019s important to them to see the business remain in the family for the next generation. and 35 percent are willing to forego potential growth to keep the business in the family.<\/p>\n

but that\u2019s not going to happen, at least not smoothly, if a lot of issues aren\u2019t resolved, communicated and agreed upon.<\/p>\n

enter the cpa<\/strong><\/p>\n

randy a. fox, founder of two hawks family office services, says that the stress and disruption to a succession plan can be avoided by having conversations well in advance. and the family\u2019s accountant can and probably should be guiding those conversations.<\/p>\n

fox offers a lot of questions that need to be addressed.<\/p>\n