{"id":2761,"date":"2018-06-24T12:29:35","date_gmt":"2018-06-24T12:29:35","guid":{"rendered":"https:\/\/www.austinshortfilm.com\/blog\/austin-tx-business-succession-attorney\/"},"modified":"2018-06-24T12:29:35","modified_gmt":"2018-06-24T12:29:35","slug":"austin-tx-business-succession-attorney","status":"publish","type":"post","link":"https:\/\/www.austinshortfilm.com\/business\/austin-tx-business-succession-attorney\/","title":{"rendered":"Austin TX Business Succession Attorney"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"480\" height=\"270\" src=\"\/\/www.youtube.com\/embed\/CXw8ikxecPg\" frameborder=\"0\" allow=\"autoplay; encrypted-media\" allowfullscreen><\/iframe><\/p>\n<p>Austin TX Business Succession Attorney Ken Vanway on Business Succession Planning&#8230;<\/p>\n<p>http:\/\/www.kenvanway.com\/index.php<\/p>\n<p>It would be an understatement to say that family businesses are the backbone of the American economy. Some 90 percent of all businesses in this country are either family-owned or family-controlled. They come in all shapes, sizes and colors, representing all sectors of our economy. From agriculture to services, technology and manufacturing, family businesses generate an estimated one-half of the U.S. Gross National Product and pay half of all wages earned in this country.<\/p>\n<p>Not all family businesses are traditional small businesses either. In fact, about one-third of all businesses included in the Fortune 500 are family businesses. But not all of the family business statistics are rosy.<\/p>\n<p>Family businesses tend not to outlive their founders. At any given moment, 40 percent of family businesses are in the process of transferring their ownership. Unfortunately, two-thirds of all initial transfers fail. Of the one-third that survives an initial transfer, only one-half will survive a second transfer.<\/p>\n<p>Why such a dismal success rate? The reasons are as varied and unique as the businesses and business owners themselves. Nevertheless, many of the failed transfers can be traced to three causes: people, taxes and cash.<\/p>\n<p>The family element in every family business can mean the difference between its success or failure during the transfer process. The retirement, disability or death of the business owner are all common events that can trigger a business transfer.<\/p>\n<p>Tough questions must be asked and answered. Otherwise, a business that took decades to build can be destroyed overnight.<\/p>\n<p>For example, who will run the business after you? Will it be your spouse, one of your children or a non-family member key employee? If your spouse will not run the business, will he or she still be financially dependent on it&#8230; or can you make arrangements to ensure they are financially independent of it?<\/p>\n<p>What arrangements have you made for the inheritance of your children who are not active in the business? Have you in-law proofed your estate?<\/p>\n<p>Thinking ahead to the second-generation transfer of your business, what provisions have you made to encourage thrift and industry among your grandchildren?<\/p>\n<p>For more information on Business Succession Planning please visit this page&#8230;<\/p>\n<p>http:\/\/www.kenvanway.com\/Texas-Business-Owners.php<\/p>\n<p>To schedule a consultation on our website please visit this page&#8230;<\/p>\n<p>http:\/\/www.kenvanway.com\/Estate-Planning-Consult-Form.php<\/p>\n<h3>More info on Austin TX Business Succession Attorney<\/h3>\n<div class=\"ss-local-rss\"><div class=\"rss_header\"><h2><a href=\"https:\/\/www.bing.com\/news\/search\/?q=Austin+TX+Business+Succession+Attorney&amp;qft=sortbydate%3D%221%22&amp;format=rss\" rel=\"nofollow\" class=\"rss_title\">Austin TX Business Succession Attorney - BingNews<\/a><br \/><span class=\"rss_description\"> Search results<\/span><\/h2><\/div><ul>\n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.kxan.com%2Fnews%2Flocal%2Faustin%2Faustin-has-gaps-in-its-tree-equity-nonprofit-says%2F&amp;c=11230842455361704001&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tAustin has gaps in its \u2018tree equity,\u2019 nonprofit says\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>The distribution of trees, and their benefits, is not the same across Austin, according to conservation group American Forests.<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.washingtonexaminer.com%2Fnews%2F2980852%2Fags-office-to-prosecute-harris-county-judges-corruption-cases%2F&amp;c=4850191993798623495&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tAG\u2019s office to prosecute Harris County judge\u2019s corruption cases\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>Harris County District Attorney Kim Ogg on Thursday asked Attorney General Ken Paxton\u2019s office to take jurisdiction over and prosecute corruption cases related to the office of Harris County Judge ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.bizjournals.com%2Faustin%2Fsubscriber-only%2F2024%2F04%2F26%2Findependent-insurance-brokerages-in-the-austin-area.html&amp;c=6868986112089415067&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tIndependent insurance brokerages in the Austin area\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>The 2024 list of independent insurance brokerages highlights providers in the Austin area. Listmakers offer all type of insurance products including property &amp; casualty, life &amp; health and surplus ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.msn.com%2Fen-us%2Fnews%2Fus%2Fstate-of-texas-contract-with-texas-aims-to-push-house-further-right%2Far-BB1lzPxQ&amp;c=18278806844171773351&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tState of Texas: \u2018Contract with Texas\u2019 aims to push House further right\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>Lt. Governor Dan Patrick gave State Senators 57 items to study on his list of interim charges.\u00a0    Come January 2025, the Senate will hit the ground running at the start of the 89th Legislative ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.sandiegouniontribune.com%2Fnews%2Fnation-world%2Fstory%2F2024-04-12%2Fhow-a-hush-money-scandal-tied-to-a-porn-star-led-to-trumps-first-criminal-trial&amp;c=15751254574464090016&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tHow a hush money scandal tied to a porn star led to Trump\u2019s first criminal trial\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>It was the kind of tawdry tale Donald Trump might\u2019ve shrugged off before his life in politics: a porn actress claiming they\u2019d had sex ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.law.com%2Ftexaslawyer%2F2024%2F04%2F12%2Fit-is-never-too-early-succession-planning-tips-for-veteran-owned-businesses%2F&amp;c=15338848929960374118&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\t'It Is Never Too Early': Succession Planning Tips for Veteran-Owned Businesses\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>Succession planning ... just assume that the business passes onto family upon death or incapacity. Sean Buckley, a veteran U.S. Navy Officer, is a corporate services attorney in the Houston ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.texasstandard.org%2Fstories%2Fboston-marathon-2024-bill-corrigan-austin-tx%2F&amp;c=9379628730771755772&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\t\u2018No plan B\u2019: Texas runner heads to Boston for his final marathon\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>This sudden clumsiness came as a surprise to the Austin resident, who has been a runner since 2006 ... This story is part of the Texas Standard\u2019s yearlong commitment to featuring the voices of and ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.cmswire.com%2Fthe-wire%2Fkhoros-unveils-a-generative-ai-powered-platform-that-will-revolutionize-self-service-customer-care%2F&amp;c=13286348155427097325&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tKhoros Unveils a Generative AI-Powered Platform That Will Revolutionize Self-Service Customer Care\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>AUSTIN, Texas--(BUSINESS WIRE)--Khoros, a leader in digital customer engagement software, today announced the patent-pending next-gen Khoros Customer Care Cloud. This transformative technology ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.mysanantonio.com%2Fbusiness%2Farticle%2Fpowerball-austin-winner-19397719.php&amp;c=135324360908294138&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tSomeone in Central Texas just won $2 million on a Powerball ticket\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>Someone bought a Powerball ticket in Austin that made a Power Play and multiplied their winnings to $2 million, according to the Texas Lottery website. The winning quick pick ticket was bought ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=662d24f25f4842fea7027fe834d00a46&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20240410755572%2Fen%2FSargent-Law-Attorney-Named-Texas-Rising-Star-by-Super-Lawyers&amp;c=4737578214822564793&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tSargent Law Attorney Named Texas Rising Star by Super Lawyers\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>DALLAS--(BUSINESS WIRE)--Sargent ... that Mark Lankford has been chosen for the Texas Rising Stars 2024 edition by the Thomson Reuters-owned Super Lawyers publication. Mr. Lankford specializes ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            <\/ul> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Austin TX Business Succession Attorney Ken Vanway on Business Succession Planning&#8230; http:\/\/www.kenvanway.com\/index.php It would be an understatement to say that family businesses are the backbone of the American economy. Some 90 percent of all businesses in this country are either family-owned or family-controlled. They come in all shapes, sizes and colors, representing all sectors of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[3],"tags":[536,148,173,535],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/www.austinshortfilm.com\/wp-content\/uploads\/2018\/06\/austin-tx-business-succession-attorney.jpg","_links":{"self":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/posts\/2761"}],"collection":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/comments?post=2761"}],"version-history":[{"count":0,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/posts\/2761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/media\/2762"}],"wp:attachment":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/media?parent=2761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/categories?post=2761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/tags?post=2761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}