This e-Book discusses important, selected topics that bear upon the subject of family business succession planning, with a bent toward the practical, all based upon Paul Hoods’s over 30 years of experience dealing with family business succession planning issues both as a lawyer and as a non-lawyer family business consultant.

TABLE OF CONTENTS

• Introduction
• Importance and Impact of Family Businesses
• Advantages and Disadvantages
• The All-Important Keep-Or-Sell Discussion
• Introduction to the 39 Critical Questions
• The 39 Critical Questions
• Aligning the Family Values with the Values of the Family-Owned Business
• Critical Points in Time for Frank, Honest and Open Family Conversations
• Identifying, Grooming and Selecting Leadership Succession Candidates for the Family Business
• The Importance and Use of Outside Advisors and Directors for the Family Business
• The All-Important Leadership Transition Process
• The Employment Rules Of The Road: Do All Family Members Have A Right To Work For The Business?
• What About the Efficacy or Desirability of Requiring a Minimum Period of Work Experience Outside of the Family Business?
• The Tension and Importance of Non-Family Member Key Employees
• The Balancing Act-Keeping the Peace Between Family Members Who Work for the Family Business and Family Members Who Don’t
• What Follows Are Some Thoughts I Have that Come Out of My Experience Guiding Business Families for Over 30 Years