Whether your family business has thrived for years or generations, it is an integral part of your family’s identity and financial security. The emotional ties run deep and charting the right course takes objective advice and specialized skills.
Experience has taught us that there is a significant difference between a family business and the business of family. The evolution of a family business, whether it passes to the next generation or is converted to liquid assets, is one of the most critical factors in extending a family’s legacy across multiple generations. Deciding the future of a family business is particularly stressful because financial and emotional issues often collide. We understand that an effective business succession plan must balance the hopes of current family leaders against the life goals and abilities of the next generation, while also providing for the family’s future financial needs. Hawthorn, working with business succession specialists, guides families through this process so they can achieve the best possible outcome for all family members.