What do you enjoy about business succession planning?

Minneapolis attorney Sally Grossman shares what she likes about business succession planning.

Contact Sally Grossman

Email: [email protected]

Phone: (612) 632-3007

Transcript:

I think I really enjoy business succession planning for a couple of reasons. One is, I think one of my skills as an estate planner is I can take a complicated concept and give somebody the executive summary. I talked earlier about lots of business owners being dominant drivers, and I’ve been told I’m the same personality, so I think I understand business owners, and most of the time, they’re not like an engineer, they don’t want to know how it’s built. They just want to know, get me where I want to go, what should I do?

And I enjoy interacting with business owners on those really tough questions. It’s not just, how do I save estate taxes, how do I pay the estate tax. It’s really important things like, which of my children should run this business? Who can do it? What does it take to run this business? What do I see as the future of the business and the family? So, it’s not just the business piece, it’s the business piece with the family piece that I really enjoy.