John Barone, Senior Director of Planning

As a former practicing business and estate planning attorney, and current family wealth planning professional, I have helped closely held and family business owners work through transitions for most of my career. It is important to understand, that despite the best efforts of talented professionals, statistically 2/3 of all family business transitions fail. Why is that? In my experience, it is because much of the decision making processes for these businesses occurs within the entrepreneur’s mind, and there is a lack of structure and process for decision making when ownership is transitioned to multiple people or ownership and management are transitioned to different people. Add in some challenging family dynamics, and you have a recipe for disaster. What the authors have developed is a framework and process for decision making that entrepreneurs can understand and feel comfortable implementing, while at the same time, enabling family members and managers to understand their roles and responsibilities and operate together productively. The concepts presented are forward thinking and years ahead of their time. This book has literally challenged me to re-examine and refine every aspect of my professional practice. Highly recommended!