Family Business
Our Family Business practice helps closely held and multigenerational companies navigate complex legal, financial, and governance issues while preserving what matters most, the family legacy. Our attorneys bring decades of collective experience to the unique challenges of advising family-owned and closely held businesses. We guide clients across industries through the complex legal and interpersonal issues that arise in areas such as business succession planning, governance, corporate transactions, ownership and shareholder agreements, and tax and wealth transfer strategies. We also advise family business owners on exit strategies, mergers and acquisitions, executive compensation arrangements, and the transition or retirement of family members. We understand the unique challenges that arise when business interests and family dynamics intersect, and we provide practical, strategic counsel designed to preserve harmony and protect value.
With full access to all the resources of a full-service business law firm, our lawyers provide counsel on the full scope of issues often faced by family businesses. Our multidisciplinary teams collaborate across corporate and commercial, income tax planning, estate tax planning, real estate, environmental law, employment law, and litigation. We work closely with our clients’ accountants, financial advisors, and family offices to ensure that every decision reflects both sound business judgment, tax planning, and the family’s vision for future generations.
We understand the unique dynamics that define family-owned enterprises. Beyond the legalities, we recognize and navigate the personal and emotional factors that influence decision-making. These include challenges such as changes in voting control, maintenance of family harmony, compensation disagreements, and the complexities created in deciding whether family members who do not work actively in the family business should become shareholders of the business. We also advise families facing breach of fiduciary duties, loss of founders, integration of non-family members into leadership positions, and growing pains of third- and fourth-generation businesses. Our counsel is always directed toward preserving long-term economic value, sustaining family harmony, and limiting the risks of protracted conflict.
Our commitment to family businesses extends beyond the walls of our firm. Several of our partners were founders and directors of The Family Business Association, Inc., a non-profit organization dedicated to educating, supporting, and honoring family businesses and their achievements in Massachusetts. Several of our partners have been active in the Boston chapter of the Exit Planning Exchange, Inc. (XPX) since its inception in Boston in 2007. XPX brings together professionals to help business owners achieve successful transitions and exits. In addition, our attorneys frequently collaborate with organizations such as the Small Business Administration, Chambers of Commerce, trade associations, and local universities, where we share our knowledge through seminars, workshops, and educational programs throughout New England.
Through this combination of technical expertise, sensitivity to family dynamics, and community leadership, we have built a reputation as a trusted advisor to family businesses navigating the intersection of law, tax planning, business planning, and family relationships.
