A family-owned business where some or all family members are active presents very difficult problems. When thinking of the future, consideration must be given to the:
- Ability of each family member
- Expertise or talent
- Ability and desire to lead
- Role of non-active family members
- Financial requirements of the business and its family workers and shareholders
- Time to make a succession arrangement
At Michael Litwin CPA Inc. we have the experience to advise most family-owned business situations and have the professional contacts and other resources to plan for the future which allows for successful intergenerational transfers of both wealth and power.