Estate Planning for Family Business Succession

Break down the process into two phases.

David Thayne Leibell, Jacqueline B. Denton | Feb 16, 2023

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Many of us have heard the family business statistics before, but they’re worth repeating. Approximately 90% of U.S. businesses are family firms.¹ They range in size from small “mom-n-pop” businesses to the likes of Walmart, Ford and Marriott. There are more than 32.4 million family businesses in the United States, representing 54% of gross domestic product and employing 59% of the U.S. workforce.² Thirty-five percent of the businesses that make up the S&P 500 are

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