Family Businesses

To Give or To Sell

Content type: Article

This article is rated four-star out of 5 stars

Family-owned businesses are the backbone of the U.S. economy, making up 90 percent of all businesses operating today. Still, only about 30 percent of these closely held enterprises survive through the second generation. Read More about To Give or To Sell

Previous Previous Item

All in the Family

Your family business can build bonds across generations and a legacy in your community. At the same time, the demands of managing a family business are unique: succession planning, risk management and relationships with family partners.

Protect What You Value

Don’t skimp on insurance for your business. A disability or loss of one key individual could be devastating. Consider key man insurance in addition to life and disability. These plans make buying or selling a business less risky and support your succession plan.

Find Full Coverage for Your Business

Account for Your Family's Needs

Consider your family’s needs before expanding your business. Make sure income is in place to cover living, medical and savings plans. Review your disability and life insurance coverage and investigate key man insurance.

Learn More About Professional Services Liability

Manage Your Capital

Make sure your assets can support both your business plan and your personal retirement plan. If your business represents a significant portion of your asset base, consider how to balance your other assets to spread your risk.

Explore Investments and Brokerage Services