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Addressing Attorney's Challenges With Family-Owned Businesses
John Brown, founder of BEI, interviewed Andrew Karlen, Business Attorney, at BEI’s National Conference last year. In this episode of Why We Plan, John and Andrew discuss the many challenges family-owned business attorneys must overcome during the exit planning process.
Working with family-owned businesses can be challenging because every family is different, numerous variables exist and conflicts can arise often. Andrew specializes in family business succession planning. He walks us through the intricacies of working as a business attorney for family-run businesses. One of the most difficult parts of working with a family-owned business from an attorney’s standpoint is it can be hard to decipher who specifically you represent within the family as well as within the organization. He uncovers how to manage those conversations with family members and gives valuable advise to those attorney’s or advisors who find themselves in similar dilemmas.