Importance of estate planning for family businesses

Did you know that a huge number of family-owned businesses do not survive into the second generation (65 percent), and, on top of that, around 20 per cent fail once it reaches the third generation?The reasons for this are many and varied. Some heirs are simply not the business leaders their parents were. Others don't have the same appetite for the sector. Others might have different risk tolerance. In still other cases, family rivalries and legal issues can tear a business apart from within...
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