Main Menu

Family Businesses

Overview

Recognizing the critical importance of the family business to the American economy, Bingham Greenebaum Doll LLP provides one of the most comprehensive family business practices in the Midwest. Our attorneys draw from the breadth and depth of our legal knowledge, as well as specialized family business training and associations, to offer clients a wide range of skills and legal experience, from corporate and securities law to tax, family succession and estate planning.

Our attorneys understand that family-owned businesses face a unique set of challenges. According to the Family Firm Institute, the leading professional association for family-owned businesses, the key issues facing today's family-owned businesses include:

  • Lack of strategic planning
  • Difficulty in balancing family objectives and business concerns
  • Lack of strategic investment management
  • Evolving leadership structures
  • Absence of succession planning
  • Inadequate estate planning

The health of the business and the health of the family are inextricably linked. Business decisions frequently affect the family’s financial security, hierarchy, relationships, sense of self-worth and harmony. Problems within the business spill into the family, and vice versa. Our attorneys understand this dynamic, and work closely with each client through both business and personal issues to help them reach their goals.

We often counsel clients on short- and long-term plans for the family business. We help clients evaluate succession planning options, including next-generation transitions and other exit options. By reviewing and updating the succession plan on a regular basis, our attorneys can help clients maximize the value of the business ahead of a transition, and minimize operational disruptions during a transition to protect family members, customers and employees.

Media

Multimedia

Blog Posts

Practice Contact

Back to Page