A critical part of a family business transfer from one generation to the next is to discuss decisions with potential heirs as well as family members working in the company.

Question

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It is important to involve potential heirs as well as family members working in the company in order to have a smooth and successful transition of a family business from one generation to the next. This helps to ensure that everyone is aware of the plans and can provide input and support as needed.

A Critical Part of a Family Business Transfer from One