f you own a business and have children, sooner or later you, your spouse and your kids will have to face a complex decision: How and when will you pass your enterprise on to the next generation?
That question has two dimensions. One is about money; the other is about management. Both are critically important.
And before you even consider the mechanics of passing on a business, you’ll need to ask some other hard questions: Does your child even want to take over the business? And is he or she capable of doing so?
It’s never too soon to start thinking about any
