Family Dynamics play a crucial role in the succession of a family business, adding a unique twist to how ownership, management, leadership and growth are handled. Seventeen years ago, Emens & Wolper attorneys co-founded the Conway Center for Family Business, which provides educational resources and programs for family owned businesses in central Ohio. Our attorneys have extensive experience in identifying and handling the key legal and practical issues for successful transition from one generation to the next: communication, leadership training and development and family dynamics. We draft the crucial documents in order to protect the family’s interest in the business, such as buy-sell agreements that are uniquely tailored to deal with issues specific to family businesses.
Rather than only focusing on the succession of ownership of a family business, we take a holistic approach to succession planning. Through facilitating family council services, we coach family businesses on various components of succession, including establishing entry requirements for family members to enter the business, strategic planning, the sometimes conflicting wants/needs of different generations in the business and managing the transition of leadership, management and authority to the future leader(s) of the family business.