In an in-depth interview, Matt Wildes, a legal and tax expert from Wildes at Law, explores the multifaceted tax challenges family businesses face during generational handovers. He underscores the criticality of early, strategic tax planning and professional guidance to navigate potential tax liabilities, including capital gains, gift, and estate taxes. Wildes advocates for proactive measures like gifting shares, leveraging trusts, and utilizing exemptions to ensure tax efficiency and the seamless continuity of family businesses through generations.

Sophia, Noah, Oliver, and Liam are members of the 83-million-strong “millennial” generation. Like many of their age cohort, they are confident, technically savvy, idealistic, relational, and eager to impact the world. And like others their age, they interact constantly with members of the 61-million-strong “boomers” generation. Yet unlike many of their peers, these four leaders have successfully navigated the maze of generational transition, committing to invest themselves in systems where “boomers” have held the reigns of power. Why did they choose to stay?

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