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Legacy And Succession Planning For Family Businesses

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BY SCOTT I. ZUCKER, ESQ.

It seems especially true in the self-storage industry, where the majority of owners are so called “mom and pop” entities, that the businesses are family-owned, started either by the baby boomers of this past generation or the greatest generation before them. These family real estate companies have survived decade after decade, weathering economic cycles and fluctuating consumer demands and successfully exist today, ready to invite even the next generation of the family into the business.