Navigating Ownership & Succession: Planning for Your Family Business

In this episode, hosts Eric Czepyha and Nike Anani dive into the challenges and opportunities of business succession and wealth planning. They explore the complexities of ownership transitions, long-term financial planning, and the importance of engaging the next generation to ensure a business’s success across generations.Our guest, Gina Staudacher, a tax lawyer with deep expertise in business transitions and succession planning, brings both personal experience and professional insight to the conversation. She shares strategies for structuring ownership, preparing for transitions, and balancing family dynamics with business priorities to create a lasting legacy.In this episode, you will learn:(04:33) Why long-term planning is essential for business owners(11:21) Engaging the next generation (13:53) Balancing family and business priorities(18:29) To sell or not to sell?(20:05) Building a strong leadership teamWant to continue the conversation?More on Northern Trust’s Secrets of Enterprising FamiliesMore on Gina StaudacherReach out to your Northern Trust advisor Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that empower families to manage wealth across generations. Don’t miss our next episode, where we’ll shift the focus to the rising gen - exploring their evolving roles, how they can prepare for leadership, and what it takes to step into ownership successfully.