Trusts are the most common methodology for families to preserve and pass down their wealth. When business ownership is placed into trust, beneficiaries, trustees, and even grantors can be surprised by the impacts on governance and decision making for the company.
Too often, there is an assumption that the Trust and its operating businesses will continue to operate as when the Grantor was still in charge. Enter the second, third, and cousin generations with different opinions and desires! What originally appeared simple, is no longer easy to understand and navigate.
Join Amy, Ginni and Kristi as they explore the complexities of entering into a family whose ownership of the business lies within either a voting trust or multiple trusts where ownership has transitioned to beneficial ownership.
