If you own a successful closely held business and have a family, it is critical to take the time necessary to consider establishing a new plan. This plan transitions your wealth to your heirs while minimizing costs, enhancing open communication that results in greater family harmony during life and beyond while maximizing business profitability. It makes sense, and sounds easy, yet it is not. Did you know $4.28 billion of family wealth is transferred yearly, yet 70% of the businesses do not survive the transfer, and 85% of those don’t even survive beyond the second generation? Why? Typically there was either no plan or there was a secretive plan unknown until the death of the business owner. Most plans that are drafted are not executed and do not include any feedback from family members.