Keeping your business in your family!
The 20/20 Law Group is uniquely positioned to assist your family in both the operation of the family business and the transition of that business to the next generation of your family. While other law firms can help small business owners deal with issues associated with the ownership and operation of a business, there are only three other firms in Canada that have a lawyer that has obtained the Family Enterprise Advisor ™ (FEA™) designation.
What this means for you is that the 20/20 Law Group is able to assist you in positioning your business for a successful transition to one or more of your children or perhaps a consortium of your cousins. The 20/20 Law Group works with you, your family members and your family’s trusted advisors to prepare the corporate reorganizations, tax plans, shareholder agreements, wills, estate and succession plans, family trusts, employment agreements, co-ownership agreements, and a number of other key documents and agreements that you and your family have discussed and have all bought into and agreed upon.
The development of these agreements and documents is a process as your family’s issues are unlike any other family’s issues. Adopting or revising agreements or succession plans that worked with another family is likely to result in a bad experience for your family. In working through a process, you and your family will develop your own processes to improve the communication among all of the members of your family and become well-positioned to address those issues in your family that either no one saw coming or everyone saw coming and didn’t wanted to address due to your family’s dynamics.
If you and your family are looking to set up your family’s business or enterprise for future success, or if you are a trusted advisor with a family client that needs help taking that next step, please call the 20/20 Law Group at 403.730.2020 to discuss what services we may be able to offer to you and your family.
To better understand some of the process and issues associated with operating a family enterprise, check out our blogs at yourfamilybusiness.ca.