Family Businesses

Specialized Knowledge

Baker, Peterson & Franklin recognizes the important presence of family businesses in the Central Valley and is distinctively qualified to deal with the unique needs of family members in business. We have developed strategies to deal with conflict resolution, estate planning, business valuations, asset protection, and succession planning.

Business founders, facing the transfer of ownership, could consider the following options:

• Close the doors
• Sell to an outsider or employee
• Retain ownership but hire outside management
• Retain family ownership and management control

To be one of the few family businesses that survive transfer of ownership requires a good understanding of your business and your family. There are four basic reasons why family firms fail to transfer the business from generation to generation successfully:

• Lack of viability of the business
• Lack of planning
• Little desire on the owner's part to transfer the firm
• Reluctance of offspring to join the firm

BP&F actively supports the Institute of Family Business at Calfornia State University, Fresno and encourages our clients to participate in their seminars.