Need to get your client thinking about being fair to their heirs? Try these tips.
Schedule a family meeting. One of your business-owning clients wants to pass on her business to her children. Organize a multi-generational meeting, where everyone articulates his or her wishes, and discusses succession options. An initial meeting with help you determine how contentious the succession may be, and whether you need to bring in a facilitator, legal counsel, tax and estate planner, business valuator or other experts to future meetings. Some successions are cut and dried, but the majority of them are not.