Family-Owned Businesses & Special Circumstances
The lawyers at Welts, White & Fontaine have wide experience and a keen understanding for the unique issues that family-owned businesses face. We can help you organize your firm and get it working for your family.
Let’s consider a management plan and a succession plan. What are the company’s capital needs. How will the company handle the retirement of the owners. What are the cash flow needs for the surviving spouses. All of these matters are particularly interesting in the context of a family owned business because family owned businesses are an important part of the family relationship.
We’ll explore family business concepts such as family councils, outside business advisors and trust directives for operating small businesses when it is the primary asset of the family. We work closely with your accountants and other professionals, and we listen carefully. Our goal is to help you identify and understand the unique issues associated with a family owned business and to craft a structure which will enable your family business to continue as a vibrant viable enterprise, from one generation to the next.