Globally around 80% of businesses are family owned and run. In New Zealand and globally only 25 to 30% of such businesses are successfully transferred to the second generation. Creating a succession plan that works best for all family members involved requires a multi-disciplinary approach. There isn’t a master plan that suits everyone, but each client will require their own custom made approach. Tripp Rolleston & Co can highlight the issues you need to address, questions you should be asking and the different advisers you should be engaging with. Most importantly Tripp Rolleston & Co will identify all the legal issues and work with your accountant or financial advisors to create a succession plan that is effective and delivers a successful outcome.