Owner lesson: from viable business to liquidation

Article Abstract:

An example of a viable family business that failed after the death of its founder illustrates some of the problems related to succession and ownership structure. In the example, three brothers each inherited one-third of the business, although only one of them was actively managing the business. The two brothers sued the operator/brother for allegedly using too much of the revenues for his own benefit. The brothers eventually won a court order to liquidate the business. This problem could have been avoided by the founder if he willed the business only to his operator/son.

Planning, Methods, Business planning, Liquidation

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Preparing for a loss of leadership

Article Abstract:

Much of the heartache and hardship resulting from the unexpected loss of a family business leader can be avoided by preparing a succession and estate plan. The leader also benefits by knowing with more confidence what will happen to the business in the future.

Estate planning

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Case study: his cheating heart

Article Abstract:

A wife who co-owns a business with a husband who is having an affair must make some decisions about the future to minimize the negative impact on the business. Professional help may be valuable in evaluating options.

Couple-owned business enterprises

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