business banking | français The Succession Source Home Articles Podcasts Webcast Q & A's Glossary Contact Us "This book is a must read for business families in their plans to transfer to the next generation of management, operation and ownership of their businesses. It provides real-world examples of these transitions and highlights the pitfalls and learning associated with succession planning" Learn More Succession planning: A step-by-step guide Running a business is complicated in itself, but when multigenerational family dynamics are layered on top of that, sometimes the combined weight can sink the family’s primary source of wealth. Learn how to pass control of the business in a way that ensures effective leadership and continued growth. Raising Children in Wealth One of the biggest challenges for a wealthy family is raising successful, well-adjusted children who can manage money. Learn some surprising and useful insights for parents and grandparents when spoiled isn’t an option. Pass it on: Involve Children in Family Philanthropy We found that the families that were successful in passing on their wealth were privately doing something the other families weren’t doing with their philanthropy. Learn how happy families do things differently. Transferring your business to the next generation Any sale or transfer of ownership of a business will trigger capital gains tax. If the value of the shares of your business has increased, you or your estate may be burdened with a substantial tax bill. Learn more about freezing the value of your shares as a potential solution. Avoid the “Shirtsleeves” Syndrome There are concrete steps that can be taken to significantly increase the probability of success transferring your wealth. Learn how to allow your wealth to create incentives for your children and grandchildren to do something positive in the world.

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