Succession planning is often a difficult part of estate planning and one of the most resistant to change in the legal profession. Attorneys and law firms that focus on family, estate and business succession planning must develop a successful formula in order to survive.
"Advising family businesses is a 'relationship-driven- practice more than others," said wealth planning attorney J. Alan Jensen.
Family planning attorney Joshua Husbands adds that, "any attorney or team of attorneys that has ongoing relationships with clients have to have this. If you have long-term relationships with clients, personal or entity-based, it's a necessity to have a transition or succession plan in place in order to keep this relationship intact."
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