Securing the Future: Strategic Succession Planning for Family Businesses
Family businesses form the cornerstone of the global economy. In the United States alone, approximately 60% of all private companies are family-owned, contributing to over 64% of GDP and employing 62% of the U.S. workforce (Forbes, 2023, Family Business Alliance, 2022). Despite this economic strength, most family businesses are not built to last. According to […]
How Ultra-High-Net-Worth Families Own Assets
1. Trusts (Irrevocable, Dynasty, and Grantor Trusts) Trusts are the cornerstone of UHNW ownership. Benefits:✔ Asset protection✔ Estate tax reduction✔ Privacy (avoids probate)✔ Multi-generational control 2. Holding Companies (LLCs, LPs, S-Corps) UHNW families rarely hold real estate, businesses, or alternative investments directly. Benefits:✔ Centralized management of family assets✔ Limited liability✔ Income splitting and valuation discounts […]