What to do when banks play musical chairs

Article Abstract:

Few family businesses will remain unaffected by bank mergers and acquisitions that are sweeping the industry. Family business owners are advised not to simply accept changes in bank ownership but to determine what is wanted from a bank and then to find a bank that will provide those services.

Banking industry, Finance, Services, Family-owned business enterprises, Family-owned businesses

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10 myths about outside boards

Article Abstract:

Only 5% to 10% of medium-sized private firms have enough outside directors to create an effective board of directors even though CEOs from other companies can provide many benefits. Excuses given most often for failing to have outside directors are described and invalidated.

Methods, Corporate directors, Column, Corporate governance

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Estate planning really does pay

Article Abstract:

Survey results indicate that owners of family businesses can considerably reduce estate and gift taxes if they start estate planning early. Estate planning should begin by the time the owner turns 45 although age 30 is not too early to begin.

Planning, Estate planning

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