succession planning

frequently asked questions

• We have come to a cross road, and are not sure if we should continue our family business. What process would you recommend that we use to arrive at the correct decision?
  
• We are concerned that our children might not have the necessary capabilities to run the family business after us. Could they maintain ownership of the company in spite of this, and how should they best select, and work with the management team?
  
• Our children have no interest in taking over our family business. Should we sell, or are there other alternatives?
  
• Our father started our family business 45 years ago and we have a problem in that although he is 75 he refuses to retire. What should we do?
  
• We are three family branches that own a medium size family business. Two of the branches would like to buy out the third one, but without creating a dispute. We are also keen to maintain a good relationship to the family members that have been bought out. What process would you recommend that we use?
  
• I do not believe my son possesses the necessary capabilities to manage the business after me, and in any case I am afraid he will just sell it when I am no longer here. What other options should I consider?
  
• My brother (57) and I (61) have now started thinking about handing over the business to our six children. We each have 2 sons and 1 daughter, and while all of our sons are interested in continuing the business, our concern lies in that only one of them is fully active in the enterprise. Could you help us outline the process required to create a shareholders’ agreement for the second generation, also ensuring that our daughters get a fair deal?