Special Issue: Family Firms and the Law

June 17, 2024 - Issue #120

Family Firms May Need More Legal Advice Than They Think Family Firms May Need More Legal Advice Than They Think Families are often reluctant to anticipate and plan for the day when an unexpected transition might upend their business. The costs of inaction are high.
How To Know When You Need a Lawyer (and How To Find the Right One) How To Know When You Need a Lawyer (and How To Find the Right One) Here are nine situations when a lawyer is a must, guidelines for getting the most from your legal budget, and steps for finding the right advisor.
Divorce Can Hollow out a Family Business — But it Doesn’t Have to Divorce Can Hollow out a Family Business — But it Doesn’t Have to It’s surprising how many business-owning families fail to properly plan for this worst case scenario. Here's advice from two experts about protecting the business.
'I’ll See You in Court?' There’s a Better Way for Businesses  'I’ll See You in Court?' There’s a Better Way for Businesses  Alternative Dispute Resolution helps businesses resolve legal matters outside of litigation, allowing the parties to voluntarily reach a compromise.
What the Bob Ross Fight Can Teach Business Owners What the Bob Ross Fight Can Teach Business Owners The fight over the beloved TV artist's estate is a cautionary tale for any business. How to protect your business and your heirs well before you die.
5 Ways to Keep Your Kids From Fighting Over Your Will 5 Ways to Keep Your Kids From Fighting Over Your Will Communicate early and often, get input, be fair and detailed about your plans, and write a letter to your children explaining your choices.
Beyond Succession: Family Firms Need a Legacy Plan Too Beyond Succession: Family Firms Need a Legacy Plan Too A family venture can thrive if its values are passed along to the next generation. Defining those values is the first challenge.
Non-Competes Are a Double-Edged Sword Non-Competes Are a Double-Edged Sword While non-competes are often viewed as low-cost insurance policies, they can have hidden costs. Here's how to tell if they're right for your venture.
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Consumers Love Local Brands. That's Good News For Family Businesses
by Philipp Jaufenthaler, Andreas Kallmuenzer, Sascha Kraus, and Alfredo De Massis / Research Insight

Being a family firm enhances a brand's local appeal and influences consumer purchasing behaviors. Read more...

How to Boost Your Board's Performance
by Lars B. Sonderegger and Claudia Binz Astrachan / Practice Insight

On an ideal board, directors with different levels of experience, backgrounds, and interests form a cohesive team that pulls in the same direction, and that achieves more together than Read more...

Separate Family Offices Can Minimize Money Problems
by Kimberly Eddleston / Interviews

It can be dangerous to ask executive assistants or your CFO to manage your personal finances. A separate staff of calm professionals will help both business and family manage money responsibly. Read more...

Women Encourage Candor at Family Businesses
by Kristen Shanine and Kristen Madison / Research Insight

A conversation orientation in the family carries over to the business -- especially for women, who are increasingly becoming the family firm's Read more...

Trending
How Family Dynamics Shape Family Businesses
by Joseph Astrachan and Claudia Binz Astrachan
Editorial offices located at St Thomas University

Editorial offices located at St Thomas University

Popular
How Do Owners of Family Business Portfolios Restructure Poorly Performing Firms?
by Marina Palm, Vanessa Diaz Moriana, and Nadine Kammerlander
Family Business Succession Planning: 10 Golden Rules
by Tom Rüsen, Torsten Groth, and Arist von Schlippe
Supported by the Richard M Schulze Family Foundation

Supported by the Richard M Schulze Family Foundation