Family businesses in our community drive both innovation and employment and are “vital to the development of both the prosperity and character of their communities”.
Studies have shown that family businesses financially outperform non-family firms, particularly when faced with challenging economic conditions. Because of their unique qualities, family business clients can benefit in dealing with advisors who recognize the advantages and challenges of the family enterprise and who can assist in creating and maintaining opportunities unique to the family business while navigating through and mitigating the risks and unique challenges family businesses face.
Kim Karras, principal at the law firm BKS LAW – Brawn Karras & Sanderson, holds the designation of Family Enterprise Advisor (FEA) from the Institute of Family Enterprise Advisors. “The Family Enterprise Advisor sees the whole picture in dealing with business families because they understand the nuanced and complex issues that are unique to family enterprise”
As a Family Enterprise Advisor, Kim integrates her own discipline (the practice of law) with those of other professionals such as accountants, bankers, insurance advisors, wealth advisors and financial planners, in order to provide collaborative and complementary advice to business family clients.
With a broader perspective and skills related to the business and legal issues that families traditionally face, Kim can assist in business succession and transition planning, corporate and family governance, wills, estate and trust planning.
What does your family succession business plan look like and what steps can be taken to ensure that your family business survives to the next generation and the next?