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Does Your Family Business Have a Succession Plan? It Should

Written by Zana Tomich on November 13, 2019 Category: Business Law & Transactions, General Counsel and Advice, Small Businesses, Succession Planning

Every family business needs a succession plan. Why? As Detroit-based business attorney Zana Tomich explains in this video, the succession plan is crucial to a family business’ ability to succeed in the future and thrive beyond the current generation.

Overlooking the succession plan is one of the greatest mistakes a family business can make. In the video, Zana answers questions about success plans like “What happens when a key employee retires?” and “What if there’s an unexpected departure, disability or even a passing?” She also highlights the five things every family business needs to know about succession planning.

Zana is the leader of the Business and Employment Law practice at Dalton & Tomich, PLC. If you have questions about succession planning for your family business or other family business transitions, contact her at 313.859.6000 or click here.

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The business and employment attorneys of Dalton & Tomich take your business just as seriously as you do. Lead attorney Zana Tomich is trusted by closely held family businesses and others across Michigan as an invaluable partner and counselor. We guarantee all your calls and emails will be returned within one business day so you can focus on what you do best: running your business.