Big Tax Changes Ahead
As we head into 2024, it‘s time to plan for the tax changes 2025 may bring. This year is pivotal for family business owners, as they must defend against harmful proposals and prepare for 2025, which...
View ArticleWhat separates the best family-owned businesses from the rest?
From Succession’s Roy clan in Midtown Manhattan high-rises to Yellowstone’s Dutton family in the prairies of Montana, the trials and tribulations of family businesses have had a popular culture...
View ArticleOf the family, by the family, for the family
One of the best things about living in Philadelphia is the proximity to several of our country’s revered historic sites. Independence Hall, where the Declaration of Independence and the United States...
View ArticleStrategies for squashing squabbles
Family-owned businesses have so many awesome upsides — superior value creation over time, a shared purpose and lots of time spent with those closest to us. That being said, they can also be a breeding...
View ArticleDoes your family need an investment policy statement?
What happens when a family business is successful enough that it generates more money than it needs to sustain itself and grow? “There are only so many things you can do with excess cash,” says Chris...
View ArticleKeys to creating a family investment policy statement
Align on goals An investment policy statement (IPS) will likely provide details about risk tolerance and asset allocation. But before a family can agree on those types of issues, they need to agree on...
View ArticleThe art of the prenup
Is your family business ready for a boom in marriage proposals? Recent reports in Forbes and CNN.com Business have predicted a steady increase in marital engagements in the next few years. While an...
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Family governance is necessary — but not sufficient — for transgenerational...
“If you want one year of prosperity, grow grain. If you want ten years of prosperity, grow trees. If you want one hundred years of prosperity, grow people.” This Chinese proverb conveys an...
View ArticleHow owners councils can bridge the governance gap
When Kelly Zelinsky’s uncle, the CEO of Freeman, proposed formalizing the governance of their global trade show, exhibit and events business, she and other family members initially felt there was no...
View ArticleEquipped for anything
The Lisle family knows a thing or two about sudden shocks to a family enterprise. The family owns the 121-year-old Lisle Corp., an automotive specialty tool manufacturer, and EZ Way Inc., a medical...
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