When family business disputes arise, personalities and emotions may overwhelm reason. These disputes can escalate into scorched-earth litigation, permanently damaging family relationships and the business. Well-constructed estate, tax, and succession plans are often cast aside and laid to waste in the aftermath. But there are steps that business owners can take to mitigate this damage. With proper planning, family business disputes can be anticipated, limited, and even avoided entirely. This session will discuss common causes of disputes among owners (and future owners) of family businesses, as well as simple proactive steps that business owners can take when creating, updating, and implementing their wealth
transfer plans to protect and limit the scope, length, and intensity of disputes with their family members while maintaining the privacy of family business matters.