Succession planning is a crucial process for family enterprises aiming to ensure continuity and preserve the long-term sustainability of the business.  Transitioning leadership to the next generation is not just about passing the baton; it involves careful planning, strategic decision-making, and overcoming unique challenges that family businesses often face. The Importance of Succession Planning The […]

Succession planning is essential for the continuity and longevity of multi-generational family businesses. The intricate dynamics of family relationships, coupled with the complexities of business management, necessitate the involvement of external advisors.  These advisors, including consultants, mentors, boards, lawyers, and accountants, bring expertise and an objective perspective crucial for navigating the succession process. The Value […]

Corporate Transparency Act (CTA) As of January 1, 2024, the Corporate Transparency Act (CTA), part of the National Defense Authorization Act, has introduced new reporting requirements for certain entities, primarily small and medium-sized businesses. These entities must now report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). The CTA was enacted to prevent […]