Why Don’t Family Businesses Plan For Succession?

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Are there control issues, fears of giving something up, or an inability to choose?

Are there emotional attachments, no plans for retirement, or farming lifestyle issues?

Does the founding generation have a proprietor, conductor, or technician perspective on the business?

What are the relationships of the next generation with the founders? Are they sons, daughters, in-laws, or non-family members?

Are there other business issues or succession planning issues that must be addressed to allow the planning process to proceed?

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