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Question
What step is best for parents to decrease succession conflict among children active in the firm and those who are not?
a. Letting those not involved in the company have a larger portion of an inheritance outside of the company and allow those involved in daily operations have more ownership of the business.
b. Letting the next generation reach a consensus about management of the company.
c. Changing the ownership of the company so common (voting) stock is only given to those active in the company and others receive preferred (nonvoting) stock.
d. Making decisions based on tax considerations, not what is best for the next generation or the business.
Answer
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