In this podcast, originally aired on Chicago’s Premiere talk-radio station, WGN, Robert Legan outlines top considerations for transferring a family business. In some instances, a business will transfer from one generation to the next. In other instances, a business will transfer to a third party. Both of these types of transaction require careful thought and planning, which should begin many years before the transaction takes place.
Robert describes several different reasons for why a business will transfer including retirement, dissolving partnerships, unforeseen passing of a founder and others. He also provides helpful suggestions for how to prepare for these events to ensure that the business and the family behind the business realize the greatest possible benefit.
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