Interesting Reading for Family Owned Businesses – April edition

Interesting Reading

The Importance of Trusts – Not Boilerplate!
Bea Wolper
Creating a trust is an essential component in your estate planning, but boilerplate trusts can often derail or negate the personal goals of your trust. Boilerplate trusts use form language and lack individual thought. They are not personal to you…

The Importance of Reviewing Your Company’s Buy-Sell Agreements
Holbrook & Manter CPAs
If you own a business and follow professional advice, you’ve likely established a buy-sell agreement in case you or a co-owner voluntarily or involuntarily ….

How an Advisory Board Can Help Your Family-Owned Business
Lexology
Family-owned businesses often form advisory boards as a source of guidance. Advisory boards differ from the board of directors discussed in this prior …

How Family Businesses Can Set Work/Family Boundaries
Forbes
If you and your family are in a family business, setting work-related boundaries is as important as putting a fence around a swimming pool. Without …

Four Solutions To Taking Control Of Your Family Business
Forbes
In business, few things can be as stressful as running a company that’s staffed and managed by a mix of family and non-family employees.

Debunking Myths About Mom and Pop Shops (INFOGRAPHIC)
Small Business Trends
In reality, a larger number of women lead family businesses compared to non-family companies. In fact, 24 percent of family-ran businesses have a …

Business Owners Need to View Their Succession Planning as Their Legacy
Black Enterprise
However, there is a disconnect between the 88% of business owners (according to the Family Business Institute) who believe that they will be able to …

Most small businesses lack disaster-recovery plan, survey finds
Columbus Dispatch
Business-interruption insurance kept Burton Metal Finishing Inc. & Powder Coating in business after a fire in 2013, said Scott Burton, vice president of …