Create a family business succession plan that works for you.Every business needs both a short- and long-term plan in place for unexpected and planned events.Ideally, succession planning should begin the day you take over a business.Those parents that are most successful at passing the torch are the ones that have created a culture in which transition is welcomed and encouraged.
If 2020 taught us anything, it’s to expect the unexpected. With that in mind, we humbly present our outlook for 2021. Take our fun little test to learn how much you know about what we think lies ahead.Regardless of whether you know the answers to this pop quiz, consider our outlook as you participate in the economic recovery and continued stock market strength.
December 1, 2020, GEM 27 — Traditionally you may think of a limited liability company (LLC) as a business structure that is used to operate a business and protect business owners from certain lawsuits. However, an LLC can also serve as a management and asset protection structure for the family’s personal assets.