The majority of businesses in the U.S. are family owned or closely held. Surveys show that more than 50% of businesses lack a succession plan and that approximately 70% will not survive to the next generation. However, thorough and thoughtful planning can greatly improve the chances of a successful transition. We understand that business succession planning is a critical part of an estate plan and can be a difficult subject for business owners. If you are a business owner, you must make choices with regard to selling or liquidating the business, or choosing and training successor management. In this decision making, you must deal with the varying needs, abilities and expectations of family members and key employees, as well as planning to minimize taxes and expenses, and avoiding family friction. Our experienced attorneys can help you devise a plan to meet your wishes, while minimizing taxes, administrative expenses, and the risk of family conflicts.